Oppenheimer Asset Management Inc. Sells 8,912 Shares of Moelis & Company (NYSE:MC)

Oppenheimer Asset Management Inc. cut its holdings in Moelis & Company (NYSE:MC) by 17.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,363 shares of the asset manager’s stock after selling 8,912 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.06% of Moelis & Company worth $2,902,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MC. Swiss National Bank boosted its stake in Moelis & Company by 0.3% in the first quarter. Swiss National Bank now owns 131,600 shares of the asset manager’s stock valued at $7,471,000 after acquiring an additional 400 shares during the last quarter. ProShare Advisors LLC raised its holdings in Moelis & Company by 7.4% in the first quarter. ProShare Advisors LLC now owns 13,469 shares of the asset manager’s stock worth $765,000 after purchasing an additional 926 shares during the period. Entropy Technologies LP raised its holdings in Moelis & Company by 7.8% in the first quarter. Entropy Technologies LP now owns 5,492 shares of the asset manager’s stock worth $312,000 after purchasing an additional 397 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Moelis & Company in the first quarter worth $3,601,000. Finally, Edgestream Partners L.P. acquired a new stake in Moelis & Company in the first quarter worth $719,000. 91.53% of the stock is owned by institutional investors.

Moelis & Company Trading Down 2.1 %

Shares of MC stock opened at $74.69 on Friday. Moelis & Company has a 1 year low of $44.06 and a 1 year high of $81.60. The firm’s fifty day moving average price is $69.49 and its two-hundred day moving average price is $62.77. 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 (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, beating the consensus estimate of $0.20 by $0.02. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The firm had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. During the same period in the previous year, the business earned ($0.15) EPS. The company’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Moelis & Company will post 0.96 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. Shareholders of record on Monday, November 4th will be paid a $0.60 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.40 annualized dividend and a yield of 3.21%. Moelis & Company’s payout ratio is currently 452.83%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MC shares. Wells Fargo & Company started coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. increased their target price 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. UBS Group increased their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Morgan Stanley dropped their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, Moelis & Company currently has a consensus rating of “Hold” and an average target price 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.