Amalgamated Bank Decreases Stock Holdings in Moelis & Company (NYSE:MC)

Amalgamated Bank reduced its stake in shares of Moelis & Company (NYSE:MC) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,628 shares of the asset manager’s stock after selling 745 shares during the period. Amalgamated Bank’s holdings in Moelis & Company were worth $1,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MC. Reston Wealth Management LLC acquired a new position in Moelis & Company in the 3rd quarter valued at about $26,000. UMB Bank n.a. raised its position in shares of Moelis & Company by 63.5% during the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after buying an additional 193 shares during the period. GAMMA Investing LLC lifted its holdings in Moelis & Company by 115.8% in the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after acquiring an additional 534 shares during the last quarter. Blue Trust Inc. grew its position in Moelis & Company by 193.0% in the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock worth $74,000 after acquiring an additional 712 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Moelis & Company in the third quarter worth approximately $75,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Analyst Ratings Changes

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

Moelis & Company Trading Down 2.1 %

Shares of NYSE MC opened at $75.30 on Thursday. The stock has a market cap of $5.64 billion, a P/E ratio of 142.08 and a beta of 1.33. The business’s fifty day simple moving average is $69.04 and its 200-day simple moving average is $62.50. Moelis & Company has a 12-month low of $42.58 and a 12-month high of $81.60.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data 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 during 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 business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, equities analysts forecast that Moelis & Company will post 0.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.19%. Moelis & Company’s dividend payout ratio (DPR) is currently 452.83%.

Moelis & 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.