Pitcairn Co. Sells 684 Shares of Moelis & Company (NYSE:MC)

Pitcairn Co. lessened its holdings in Moelis & Company (NYSE:MC) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,430 shares of the asset manager’s stock after selling 684 shares during the quarter. Pitcairn Co.’s holdings in Moelis & Company were worth $650,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MC. O Shaughnessy Asset Management LLC raised its holdings in Moelis & Company by 7.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,067 shares of the asset manager’s stock worth $628,000 after acquiring an additional 790 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Moelis & Company by 4.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 58,850 shares of the asset manager’s stock worth $3,340,000 after purchasing an additional 2,667 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Moelis & Company by 7.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,766 shares of the asset manager’s stock valued at $2,031,000 after buying an additional 2,428 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Moelis & Company in the first quarter valued at $256,000. Finally, SkyView Investment Advisors LLC acquired a new position in Moelis & Company during the first quarter worth $776,000. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Shares of MC opened at $77.60 on Tuesday. The firm has a market cap of $5.81 billion, a P/E ratio of 146.42 and a beta of 1.33. Moelis & Company has a 52 week low of $44.53 and a 52 week high of $81.60. The firm’s 50-day simple moving average is $70.46 and its 200 day simple moving average is $63.72.

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

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s dividend payout ratio is 452.83%.

Wall Street Analysts Forecast Growth

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