Moelis & Company $MC Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in Moelis & Company (NYSE:MC) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,658 shares of the asset manager’s stock after buying an additional 17,740 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.45% of Moelis & Company worth $23,691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Azora Capital LP purchased a new stake in shares of Moelis & Company in the second quarter valued at about $46,762,000. The Manufacturers Life Insurance Company increased its holdings in shares of Moelis & Company by 1,161.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock worth $41,231,000 after buying an additional 609,162 shares during the last quarter. Norges Bank purchased a new stake in shares of Moelis & Company during the 2nd quarter valued at approximately $31,248,000. Geode Capital Management LLC raised its position in shares of Moelis & Company by 26.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,052,862 shares of the asset manager’s stock valued at $127,947,000 after buying an additional 424,138 shares during the period. Finally, Tributary Capital Management LLC lifted its holdings in Moelis & Company by 91.2% in the third quarter. Tributary Capital Management LLC now owns 793,600 shares of the asset manager’s stock valued at $56,600,000 after acquiring an additional 378,636 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Moelis & Company in a research note on Thursday, October 9th. They set a “buy” rating and a $80.00 target price for the company. Keefe, Bruyette & Woods downgraded Moelis & Company from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $78.00 to $80.00 in a research report on Tuesday, December 16th. BMO Capital Markets began coverage on shares of Moelis & Company in a report on Friday, October 3rd. They issued a “market perform” rating and a $74.00 price objective on the stock. UBS Group upped their target price on shares of Moelis & Company from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.00.

Moelis & Company Trading Up 2.6%

MC stock opened at $76.74 on Thursday. The business’s fifty day moving average price is $69.25 and its 200 day moving average price is $69.74. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89. The company has a market capitalization of $6.01 billion, a PE ratio of 25.67, a P/E/G ratio of 0.60 and a beta of 1.85.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, October 29th. The asset manager reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. The company had revenue of $356.89 million during the quarter, compared to analysts’ expectations of $336.14 million. Moelis & Company had a return on equity of 45.62% and a net margin of 15.98%.Moelis & Company’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. Research analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Monday, November 10th were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.60 annualized dividend and a dividend yield of 3.4%. Moelis & Company’s dividend payout ratio (DPR) is presently 86.96%.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.