Harvest Fund Management Co. Ltd Makes New Investment in Moelis & Company (NYSE:MC)

Harvest Fund Management Co. Ltd purchased a new stake in Moelis & Company (NYSE:MC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,895 shares of the asset manager’s stock, valued at approximately $130,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MC. Dynamic Technology Lab Private Ltd acquired a new position in Moelis & Company during the 3rd quarter worth approximately $1,704,000. Fisher Asset Management LLC grew its stake in Moelis & Company by 0.4% in the third quarter. Fisher Asset Management LLC now owns 62,570 shares of the asset manager’s stock valued at $4,287,000 after acquiring an additional 220 shares during the period. Cerity Partners LLC increased its holdings in shares of Moelis & Company by 129.8% during the third quarter. Cerity Partners LLC now owns 13,845 shares of the asset manager’s stock valued at $949,000 after acquiring an additional 7,819 shares in the last quarter. Citigroup Inc. raised its position in shares of Moelis & Company by 75.0% during the third quarter. Citigroup Inc. now owns 87,213 shares of the asset manager’s stock worth $5,975,000 after purchasing an additional 37,375 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Moelis & Company by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,920 shares of the asset manager’s stock worth $63,229,000 after purchasing an additional 16,830 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

MC opened at $75.85 on Thursday. Moelis & Company has a 1 year low of $45.45 and a 1 year high of $81.60. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 143.11 and a beta of 1.33. The firm’s fifty day moving average price is $70.80 and its two-hundred day moving average price is $64.05.

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

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 annualized dividend and a yield of 3.16%. Moelis & Company’s payout ratio is currently 452.83%.

Analyst Ratings Changes

MC has been the subject of a number of recent research reports. UBS Group boosted their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Morgan Stanley decreased their target price on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. Finally, Wells Fargo & Company started coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.83.

Moelis & Company Profile

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.