Geode Capital Management LLC Purchases 10,698 Shares of Moelis & Company (NYSE:MC)

Geode Capital Management LLC raised its position in shares of Moelis & Company (NYSE:MC) by 0.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,590,316 shares of the asset manager’s stock after purchasing an additional 10,698 shares during the period. Geode Capital Management LLC owned approximately 2.12% of Moelis & Company worth $108,973,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in shares of Moelis & Company during the 3rd quarter valued at $26,000. UMB Bank n.a. increased its holdings in shares of Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after buying an additional 193 shares during the period. GAMMA Investing LLC lifted its stake in shares of Moelis & Company by 115.8% in the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after acquiring an additional 534 shares during the last quarter. Blue Trust Inc. boosted its holdings in Moelis & Company by 193.0% during the 3rd quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after acquiring an additional 712 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Moelis & Company during the 3rd quarter valued at about $75,000. Institutional investors own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MC. UBS Group lifted their price target on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Morgan Stanley raised shares of Moelis & Company from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $66.00 to $92.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company upped their price target on shares of Moelis & Company from $70.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Moelis & Company currently has an average rating of “Hold” and a consensus target price of $66.50.

Moelis & Company Stock Down 4.6 %

Shares of MC stock opened at $70.99 on Thursday. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 133.94 and a beta of 1.37. The stock has a fifty day moving average of $72.80 and a 200 day moving average of $66.01. Moelis & Company has a 52 week low of $46.24 and a 52 week high of $81.60.

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

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.38%. The ex-dividend date was Monday, November 4th. Moelis & Company’s payout ratio is currently 452.83%.

Moelis & Company 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.