SpiderRock Advisors LLC Trims Holdings in Moelis & Company (NYSE:MC)

SpiderRock Advisors LLC cut its position in shares of Moelis & Company (NYSE:MC) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,071 shares of the asset manager’s stock after selling 3,419 shares during the quarter. SpiderRock Advisors LLC owned approximately 0.07% of Moelis & Company worth $3,704,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC purchased a new stake in Moelis & Company in the 3rd quarter valued at about $26,000. UMB Bank n.a. grew 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 purchasing an additional 193 shares during the period. GAMMA Investing LLC raised its stake in Moelis & Company by 115.8% during the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock worth $68,000 after purchasing an additional 534 shares during the period. Blue Trust Inc. boosted its holdings 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 purchasing an additional 712 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Moelis & Company during the 3rd quarter valued at $75,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Moelis & Company stock opened at $77.01 on Friday. The firm has a market capitalization of $5.77 billion, a PE ratio of 145.30 and a beta of 1.33. Moelis & Company has a one year low of $40.88 and a one year high of $81.60. The stock’s 50 day moving average price is $68.35 and its 200 day moving average price is $61.97.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $273.76 million for 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 business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, analysts forecast that Moelis & Company will post 0.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The firm 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Monday, November 4th. Moelis & Company’s payout ratio is 452.83%.

Wall Street Analysts Forecast Growth

MC has been the topic of several research reports. UBS Group increased their target price on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Morgan Stanley reduced their price objective on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company started coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.83.

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.