Pier Capital LLC acquired a new position in shares of Moelis & Company (NYSE:MC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 165,980 shares of the asset manager’s stock, valued at approximately $7,145,000. Moelis & Company accounts for 1.2% of Pier Capital LLC’s investment portfolio, making the stock its 12th biggest holding. Pier Capital LLC owned about 0.31% of Moelis & Company at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MC. Alps Advisors Inc. lifted its holdings in shares of Moelis & Company by 0.3% during the second quarter. Alps Advisors Inc. now owns 12,752 shares of the asset manager’s stock worth $495,000 after buying an additional 33 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Moelis & Company by 0.8% during the second quarter. Hillsdale Investment Management Inc. now owns 26,810 shares of the asset manager’s stock worth $1,041,000 after buying an additional 210 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Moelis & Company by 1.3% during the second quarter. Stifel Financial Corp now owns 36,542 shares of the asset manager’s stock worth $1,422,000 after buying an additional 478 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Moelis & Company by 11.7% during the second quarter. Legal & General Group Plc now owns 6,427 shares of the asset manager’s stock worth $249,000 after buying an additional 674 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Moelis & Company by 1.9% during the second quarter. Alliancebernstein L.P. now owns 41,300 shares of the asset manager’s stock worth $1,605,000 after buying an additional 780 shares in the last quarter. 56.81% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company (NYSE:MC) remained flat at $$47.90 during mid-day trading on Monday. 358,800 shares of the stock were exchanged, compared to its average volume of 342,026. The firm has a market cap of $2,552.69, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.00 and a beta of 1.92. Moelis & Company has a 52 week low of $28.65 and a 52 week high of $48.35.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. The business had revenue of $170.00 million during the quarter, compared to the consensus estimate of $168.51 million. Moelis & Company had a return on equity of 52.76% and a net margin of 9.62%. Moelis & Company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. equities research analysts predict that Moelis & Company will post 2.42 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Friday, November 3rd. Moelis & Company’s dividend payout ratio (DPR) is presently 70.81%.

MC has been the subject of a number of research reports. Zacks Investment Research downgraded Moelis & Company from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Morgan Stanley lifted their target price on Moelis & Company from $45.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. JMP Securities lifted their target price on Moelis & Company from $44.00 to $47.00 and gave the stock a “market outperform” rating in a report on Thursday, October 26th. Finally, UBS lifted their target price on Moelis & Company from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $45.00.

In related news, Chairman Kenneth Moelis sold 30,656 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $42.67, for a total value of $1,308,091.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 80,956 shares of company stock valued at $3,451,515. 52.64% of the stock is owned by insiders.

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Moelis & Company Profile

Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.

Institutional Ownership by Quarter for Moelis & Company (NYSE:MC)

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