24,870 Shares in Moelis & Company (NYSE:MC) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new position in shares of Moelis & Company (NYSE:MC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,870 shares of the asset manager’s stock, valued at approximately $1,704,000.

A number of other large investors also recently bought and sold shares of MC. Reston Wealth Management LLC acquired a new position in shares of Moelis & Company in the 3rd quarter valued at about $26,000. UMB Bank n.a. raised its holdings in Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after buying an additional 193 shares during the period. GAMMA Investing LLC lifted its position in Moelis & Company by 115.8% during the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after buying an additional 534 shares in the last quarter. Blue Trust Inc. lifted its position in Moelis & Company by 193.0% during the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after buying an additional 712 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Moelis & Company during the third quarter worth approximately $75,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MC shares. Morgan Stanley reduced their target price on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company began coverage on Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective on the stock. Finally, UBS Group increased their target price on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.83.

Moelis & Company Price Performance

NYSE:MC opened at $77.60 on Tuesday. The firm has a 50-day moving average of $70.46 and a two-hundred day moving average of $63.72. The stock has a market cap of $5.81 billion, a P/E ratio of 146.42 and a beta of 1.33. Moelis & Company has a 1-year low of $44.53 and a 1-year high of $81.60.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The firm had revenue of $273.76 million during the quarter, compared to the consensus estimate of $273.58 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. Moelis & Company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts expect that Moelis & Company will post 0.96 earnings per share for the current year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Monday, November 4th. Moelis & Company’s payout ratio is currently 452.83%.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.