Voya Investment Management LLC Purchases 63,537 Shares of Moelis & Company $MC

Voya Investment Management LLC lifted its position in shares of Moelis & Company (NYSE:MC) by 12.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 565,727 shares of the asset manager’s stock after purchasing an additional 63,537 shares during the period. Voya Investment Management LLC’s holdings in Moelis & Company were worth $40,348,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Heritage Family Offices LLP grew its holdings in Moelis & Company by 10.2% during the third quarter. Heritage Family Offices LLP now owns 5,446 shares of the asset manager’s stock worth $388,000 after purchasing an additional 506 shares during the period. GAMMA Investing LLC lifted its position in shares of Moelis & Company by 25.0% in the third quarter. GAMMA Investing LLC now owns 1,510 shares of the asset manager’s stock valued at $108,000 after buying an additional 302 shares during the last quarter. Corient Private Wealth LLC bought a new position in shares of Moelis & Company during the 2nd quarter worth approximately $456,000. Osaic Holdings Inc. increased its holdings in shares of Moelis & Company by 24.3% during the 2nd quarter. Osaic Holdings Inc. now owns 13,817 shares of the asset manager’s stock worth $861,000 after acquiring an additional 2,705 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its stake in Moelis & Company by 17.6% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 48,356 shares of the asset manager’s stock valued at $3,014,000 after acquiring an additional 7,223 shares during the period. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Moelis & Company from $74.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Keefe, Bruyette & Woods downgraded shares of Moelis & Company from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $78.00 to $80.00 in a report on Tuesday, December 16th. Seaport Res Ptn raised shares of Moelis & Company from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 30th. BMO Capital Markets assumed coverage on shares of Moelis & Company in a research report on Friday, October 3rd. They set a “market perform” rating and a $74.00 price objective for the company. Finally, Zacks Research downgraded Moelis & Company from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.63.

Moelis & Company Stock Up 0.1%

Shares of Moelis & Company stock opened at $70.09 on Friday. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.90. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89. The company has a 50-day simple moving average of $66.14 and a two-hundred day simple moving average of $67.58.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, October 29th. The asset manager reported $0.68 EPS for the quarter, topping the consensus estimate of $0.57 by $0.11. The company had revenue of $356.89 million for the quarter, compared to analysts’ expectations of $336.14 million. Moelis & Company had a net margin of 15.98% and a return on equity of 45.62%. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. On average, sell-side analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Monday, November 10th were given 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 was Monday, November 10th. Moelis & Company’s dividend payout ratio is presently 86.96%.

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.