State of New Jersey Common Pension Fund D Sells 4,102 Shares of Moelis & Company (NYSE:MC)

State of New Jersey Common Pension Fund D cut its stake in shares of Moelis & Company (NYSE:MC) by 12.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,349 shares of the asset manager’s stock after selling 4,102 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Moelis & Company were worth $2,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC purchased a new position in Moelis & Company during the third quarter valued at approximately $465,000. Atria Investments Inc lifted its stake in shares of Moelis & Company by 4.6% during the 3rd quarter. Atria Investments Inc now owns 25,197 shares of the asset manager’s stock valued at $1,726,000 after buying an additional 1,107 shares in the last quarter. Emerald Advisers LLC lifted its stake in shares of Moelis & Company by 1.3% during the 3rd quarter. Emerald Advisers LLC now owns 440,330 shares of the asset manager’s stock valued at $30,167,000 after buying an additional 5,844 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Moelis & Company by 15.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,985 shares of the asset manager’s stock worth $1,438,000 after buying an additional 2,826 shares during the period. Finally, Reston Wealth Management LLC purchased a new stake in Moelis & Company in the 3rd quarter worth $26,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on 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 started coverage on shares of Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. Morgan Stanley reduced 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, October 24th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Finally, UBS Group boosted their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Two investment 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 a consensus rating of “Hold” and a consensus target price of $60.83.

Moelis & Company Price Performance

Moelis & Company stock opened at $74.69 on Friday. The firm has a market capitalization of $5.60 billion, a P/E ratio of 140.92 and a beta of 1.33. Moelis & Company has a 1-year low of $44.06 and a 1-year high of $81.60. The company’s 50-day moving average is $69.49 and its 200 day moving average is $62.86.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $273.76 million during the quarter, compared to analyst estimates of $273.58 million. During the same period last year, the company earned ($0.15) EPS. Moelis & Company’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts anticipate that Moelis & Company will post 0.96 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Monday, November 4th. Moelis & Company’s dividend payout ratio 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.