Harbor Capital Advisors Inc. Increases Stock Position in Moelis & Company (NYSE:MC)

Harbor Capital Advisors Inc. increased its holdings in shares of Moelis & Company (NYSE:MC) by 15.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,985 shares of the asset manager’s stock after purchasing an additional 2,826 shares during the period. Harbor Capital Advisors Inc.’s holdings in Moelis & Company were worth $1,438,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MC. Reston Wealth Management LLC bought a new position in Moelis & Company in the third quarter worth about $26,000. UMB Bank n.a. boosted its stake in Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 193 shares in the last quarter. GAMMA Investing LLC grew 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 worth $68,000 after purchasing an additional 534 shares during the last quarter. Blue Trust Inc. increased its position in shares of Moelis & Company by 193.0% during the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock worth $74,000 after purchasing an additional 712 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Moelis & Company during the 3rd quarter valued at $75,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MC has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted 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. UBS Group upped their price target 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Finally, 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 on the stock. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.83.

Moelis & Company Price Performance

NYSE:MC opened at $68.00 on Wednesday. The company’s fifty day moving average price is $67.67 and its 200-day moving average price is $61.51. Moelis & Company has a 1-year low of $40.88 and a 1-year high of $72.80. The firm has a market capitalization of $5.09 billion, a P/E ratio of 128.30 and a beta of 1.33.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the business earned ($0.15) earnings per share. Equities analysts anticipate that Moelis & Company will post 0.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.53%. Moelis & Company’s dividend payout ratio is presently 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.