Harbor Capital Advisors Inc. Cuts Stock Holdings in Moelis & Company (NYSE:MC)

Harbor Capital Advisors Inc. reduced its stake in Moelis & Company (NYSE:MC) by 9.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,900 shares of the asset manager’s stock after selling 2,085 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Moelis & Company were worth $1,396,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MC. Trust Point Inc. lifted its holdings in Moelis & Company by 0.8% during the third quarter. Trust Point Inc. now owns 18,976 shares of the asset manager’s stock worth $1,300,000 after acquiring an additional 147 shares during the period. OneDigital Investment Advisors LLC raised its stake in shares of Moelis & Company by 1.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 13,812 shares of the asset manager’s stock worth $946,000 after purchasing an additional 172 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Moelis & Company by 18.1% in the 4th quarter. GAMMA Investing LLC now owns 1,175 shares of the asset manager’s stock worth $87,000 after buying an additional 180 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of Moelis & Company by 1.4% in the 2nd quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager’s stock worth $788,000 after buying an additional 188 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Moelis & Company by 2.7% during the second quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager’s stock worth $409,000 after buying an additional 192 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Price Performance

NYSE:MC opened at $71.52 on Monday. Moelis & Company has a 1 year low of $46.24 and a 1 year high of $81.60. The stock’s fifty day moving average price is $74.71 and its two-hundred day moving average price is $68.60. The company has a market cap of $5.36 billion, a P/E ratio of 134.94 and a beta of 1.39.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data 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. The business 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%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) EPS. On average, analysts expect that Moelis & Company will post 0.96 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, November 4th. This represents a $2.40 annualized dividend and a yield of 3.36%. Moelis & Company’s dividend payout ratio is currently 452.83%.

Analysts Set New Price Targets

A number of research firms have weighed in on MC. UBS Group boosted their target price 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 upgraded Moelis & Company from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $71.00 to $86.00 in a research note on Friday, December 20th. Wells Fargo & Company raised their target price on Moelis & Company from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Finally, Morgan Stanley upgraded Moelis & Company from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $66.00 to $92.00 in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.83.

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.