London Co. of Virginia Reduces Stake in Moelis & Company $MC

London Co. of Virginia lowered its holdings in Moelis & Company (NYSE:MC) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,061,979 shares of the asset manager’s stock after selling 203,899 shares during the period. London Co. of Virginia owned approximately 3.91% of Moelis & Company worth $210,481,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Hantz Financial Services Inc. raised its holdings in shares of Moelis & Company by 64.4% in the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 163 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in shares of Moelis & Company by 2.1% in the 4th quarter. Wesbanco Bank Inc. now owns 8,889 shares of the asset manager’s stock valued at $611,000 after acquiring an additional 180 shares in the last quarter. GW Henssler & Associates Ltd. raised its holdings in shares of Moelis & Company by 5.6% in the 4th quarter. GW Henssler & Associates Ltd. now owns 3,433 shares of the asset manager’s stock valued at $236,000 after acquiring an additional 181 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Moelis & Company by 1.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,955 shares of the asset manager’s stock valued at $1,165,000 after acquiring an additional 200 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Moelis & Company by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 69,155 shares of the asset manager’s stock valued at $4,310,000 after acquiring an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Analysts Set New Price Targets

MC has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their price target on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. UBS Group lowered their price target on Moelis & Company from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings cut Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Wall Street Zen cut Moelis & Company from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, Morgan Stanley lowered their price target on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.89.

Moelis & Company Trading Up 0.8%

Shares of NYSE MC opened at $69.61 on Wednesday. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 0.83 and a beta of 1.85. Moelis & Company has a 1-year low of $51.06 and a 1-year high of $78.22. The stock’s 50-day moving average is $66.03 and its 200 day moving average is $65.95.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The firm had revenue of $319.78 million for the quarter, compared to analysts’ expectations of $321.51 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. On average, analysts forecast that Moelis & Company will post 3.17 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, May 11th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, May 11th. Moelis & Company’s dividend payout ratio (DPR) is currently 93.53%.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.