London Co. of Virginia Has $232.92 Million Stock Holdings in Moelis & Company $MC

London Co. of Virginia decreased its position in Moelis & Company (NYSE:MC) by 4.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,265,878 shares of the asset manager’s stock after selling 151,120 shares during the quarter. London Co. of Virginia’s holdings in Moelis & Company were worth $232,923,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MC. Alps Advisors Inc. acquired a new position in Moelis & Company during the 3rd quarter valued at about $6,105,000. AE Wealth Management LLC acquired a new stake in shares of Moelis & Company during the 2nd quarter worth approximately $207,000. JPMorgan Chase & Co. raised its stake in shares of Moelis & Company by 1.8% during the third quarter. JPMorgan Chase & Co. now owns 962,778 shares of the asset manager’s stock worth $68,665,000 after buying an additional 17,220 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Moelis & Company by 5.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 354,658 shares of the asset manager’s stock valued at $23,691,000 after buying an additional 17,740 shares during the period. Finally, AlphaQuest LLC lifted its holdings in Moelis & Company by 354.1% in the third quarter. AlphaQuest LLC now owns 42,789 shares of the asset manager’s stock valued at $3,052,000 after buying an additional 33,367 shares during the period. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Price Performance

MC opened at $51.86 on Tuesday. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 0.55 and a beta of 1.90. The business’s 50-day moving average price is $67.25 and its two-hundred day moving average price is $68.09. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $78.22.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.37. The company had revenue of $487.94 million during the quarter, compared to analysts’ expectations of $430.17 million. Moelis & Company had a return on equity of 41.67% and a net margin of 15.36%.Moelis & Company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 earnings per share. Sell-side analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $2.60 dividend on an annualized basis and a yield of 5.0%. Moelis & Company’s dividend payout ratio is 88.44%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Moelis & Company in a research note on Monday, December 29th. The Goldman Sachs Group cut their price target on Moelis & Company from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. JPMorgan Chase & Co. raised their price target on Moelis & Company from $80.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Morgan Stanley lifted their price objective on Moelis & Company from $89.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, Keefe, Bruyette & Woods downgraded Moelis & Company from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $78.00 to $80.00 in a report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.44.

Insiders Place Their Bets

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 2,765 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $62.23, for a total transaction of $172,065.95. Following the completion of the transaction, the general counsel owned 4,981 shares of the company’s stock, valued at $309,967.63. This represents a 35.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.40% of the stock is currently owned by company insiders.

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.