Raymond James & Associates Has $25.55 Million Stake in Moelis & Company (NYSE:MC)

Raymond James & Associates boosted its stake in shares of Moelis & Company (NYSE:MC) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 372,919 shares of the asset manager’s stock after buying an additional 2,053 shares during the quarter. Raymond James & Associates’ holdings in Moelis & Company were worth $25,549,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Moelis & Company by 0.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager’s stock valued at $408,836,000 after purchasing an additional 47,365 shares during the last quarter. Wasatch Advisors LP grew its holdings in Moelis & Company by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock worth $194,020,000 after acquiring an additional 159,797 shares during the period. Lord Abbett & CO. LLC grew its holdings in Moelis & Company by 5.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock worth $63,483,000 after acquiring an additional 55,402 shares during the period. Bank of New York Mellon Corp raised its position in shares of Moelis & Company by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 755,541 shares of the asset manager’s stock worth $42,960,000 after acquiring an additional 29,532 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Moelis & Company by 179.2% in the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock valued at $40,265,000 after purchasing an additional 454,478 shares during the period. Institutional investors own 91.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total transaction of $34,298.55. Following the transaction, the director now directly owns 9,372 shares of the company’s stock, valued at $649,385.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Kenneth Moelis sold 5,308 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the sale, the chief executive officer now directly owns 86 shares of the company’s stock, valued at approximately $5,922.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the transaction, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Moelis & Company Price Performance

NYSE:MC opened at $66.98 on Friday. Moelis & Company has a one year low of $38.58 and a one year high of $72.80. The company has a market cap of $5.01 billion, a PE ratio of -352.53 and a beta of 1.33. The firm has a 50-day moving average of $67.51 and a 200-day moving average of $60.62.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The firm had revenue of $264.59 million during the quarter, compared to analyst estimates of $227.90 million. During the same period in the previous year, the company posted ($0.04) EPS. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, equities research analysts expect that Moelis & Company will post 1.08 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued 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 3.58%. Moelis & Company’s dividend payout ratio (DPR) is currently -1,263.16%.

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.