Heritage Family Offices LLP Acquires 213 Shares of Moelis & Company (NYSE:MC)

Heritage Family Offices LLP raised its holdings in Moelis & Company (NYSE:MC) by 5.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,464 shares of the asset manager’s stock after buying an additional 213 shares during the quarter. Heritage Family Offices LLP’s holdings in Moelis & Company were worth $330,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MC. Reston Wealth Management LLC bought a new stake in shares of Moelis & Company in the third quarter valued at approximately $26,000. GAMMA Investing LLC raised its stake in Moelis & Company by 115.8% during the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after purchasing an additional 534 shares during the last quarter. Blue Trust Inc. boosted its holdings in 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 period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Moelis & Company in the 3rd quarter worth $75,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Moelis & Company by 75.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the asset manager’s stock worth $83,000 after purchasing an additional 629 shares during the period. 91.53% of the stock is owned by institutional investors.

Moelis & Company Price Performance

Moelis & Company stock opened at $75.18 on Thursday. The business has a 50 day simple moving average of $74.80 and a 200 day simple moving average of $68.87. The company has a market capitalization of $5.63 billion, a PE ratio of 141.85 and a beta of 1.39. Moelis & Company has a one year low of $46.24 and a one year high of $81.60.

Moelis & Company (NYSE:MC) last issued 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. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The company had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. During the same period last year, the business earned ($0.15) earnings per share. The business’s revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Moelis & Company will post 1.02 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were given a $0.60 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.19%. Moelis & Company’s dividend payout ratio (DPR) is presently 452.83%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MC shares. UBS Group increased their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Morgan Stanley upgraded Moelis & Company from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $66.00 to $92.00 in a research report on Monday, December 9th. Wells Fargo & Company lowered their price objective on Moelis & Company from $78.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Keefe, Bruyette & Woods raised Moelis & Company from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $71.00 to $86.00 in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $70.67.

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.