Oppenheimer Asset Management Inc. Sells 8,912 Shares of Moelis & Company (NYSE:MC)

Oppenheimer Asset Management Inc. lessened its position in Moelis & Company (NYSE:MC) by 17.4% in the third quarter, HoldingsChannel.com reports. The fund owned 42,363 shares of the asset manager’s stock after selling 8,912 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Moelis & Company were worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of MC. Reston Wealth Management LLC bought a new position in shares of Moelis & Company in the 3rd quarter valued at about $26,000. UMB Bank n.a. grew its position in shares of Moelis & Company by 63.5% in the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 193 shares during the period. GAMMA Investing LLC grew its position 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 period. Blue Trust Inc. grew its position in shares of Moelis & Company by 193.0% in 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. bought a new position in shares of Moelis & Company in the 3rd quarter valued at about $75,000. Institutional investors own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MC shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 target price (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Wells Fargo & Company started coverage on shares of Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Morgan Stanley reduced their target price on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Finally, UBS Group lifted their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Moelis & Company currently has a consensus rating of “Hold” and a consensus price target of $60.83.

Moelis & Company Stock Down 2.1 %

NYSE MC opened at $74.69 on Friday. The company has a market capitalization of $5.60 billion, a P/E ratio of 140.92 and a beta of 1.33. Moelis & Company has a 12-month low of $44.06 and a 12-month high of $81.60. The firm has a 50-day moving average price of $69.49 and a two-hundred day moving average price of $62.77.

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

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s payout ratio is presently 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.