Harvest Fund Management Co. Ltd Buys Shares of 1,895 Moelis & Company (NYSE:MC)

Harvest Fund Management Co. Ltd purchased a new position in shares of Moelis & Company (NYSE:MC) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,895 shares of the asset manager’s stock, valued at approximately $130,000.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in Moelis & Company by 51.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 135,399 shares of the asset manager’s stock valued at $7,699,000 after acquiring an additional 46,226 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Moelis & Company by 18.2% during the 2nd quarter. Sei Investments Co. now owns 305,871 shares of the asset manager’s stock valued at $17,392,000 after purchasing an additional 47,176 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Moelis & Company by 274.4% during the 2nd quarter. XTX Topco Ltd now owns 16,524 shares of the asset manager’s stock valued at $940,000 after purchasing an additional 12,110 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Moelis & Company during the 3rd quarter worth approximately $3,433,000. Finally, Natixis Advisors LLC lifted its stake in Moelis & Company by 13.7% in the 3rd quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock valued at $55,141,000 after purchasing an additional 96,720 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Down 1.4 %

Shares of NYSE:MC opened at $75.85 on Thursday. The firm has a market cap of $5.68 billion, a P/E ratio of 143.11 and a beta of 1.33. Moelis & Company has a 12-month low of $45.45 and a 12-month high of $81.60. The business has a fifty day simple moving average of $70.80 and a 200 day simple moving average of $64.05.

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

Moelis & Company Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on MC. UBS Group increased their price target on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Wells Fargo & Company began coverage on Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price for the company. Finally, Morgan Stanley reduced their price target on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.83.

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.