Pathstone Holdings LLC Sells 7,409 Shares of Moelis & Company (NYSE:MC)

Pathstone Holdings LLC reduced its holdings in shares of Moelis & Company (NYSE:MC) by 15.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,715 shares of the asset manager’s stock after selling 7,409 shares during the quarter. Pathstone Holdings LLC owned about 0.05% of Moelis & Company worth $2,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MC. Kayne Anderson Rudnick Investment Management LLC boosted its stake in 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 worth $408,836,000 after purchasing an additional 47,365 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Moelis & Company by 13.7% in the third quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock worth $55,141,000 after buying an additional 96,720 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Moelis & Company by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 755,541 shares of the asset manager’s stock valued at $42,960,000 after acquiring an additional 29,532 shares during the period. Assenagon Asset Management S.A. purchased a new position in Moelis & Company during the third quarter valued at approximately $49,017,000. Finally, Emerald Advisers LLC increased its holdings in Moelis & Company by 1.3% during the 3rd quarter. Emerald Advisers LLC now owns 440,330 shares of the asset manager’s stock worth $30,167,000 after acquiring an additional 5,844 shares during the period. 91.53% of the stock is owned by institutional investors.

Moelis & Company Stock Up 3.4 %

NYSE MC opened at $77.60 on Tuesday. The stock’s 50-day simple moving average is $70.46 and its two-hundred day simple moving average is $63.72. Moelis & Company has a twelve month low of $44.53 and a twelve month high of $81.60. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 146.60 and a beta of 1.33.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $273.76 million for the quarter, compared to analysts’ expectations of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. Moelis & Company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) EPS. On average, equities analysts expect that Moelis & Company will post 0.96 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

MC has been the subject of several analyst reports. 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 report on Thursday, October 24th. Wells Fargo & Company started coverage on Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. Finally, UBS Group raised their price target on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.