Wealth Enhancement Advisory Services LLC Sells 1,183 Shares of Moelis & Company (NYSE:MC)

Wealth Enhancement Advisory Services LLC lessened its holdings in Moelis & Company (NYSE:MC) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,558 shares of the asset manager’s stock after selling 1,183 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.19% of Moelis & Company worth $9,767,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Reston Wealth Management LLC acquired a new stake in Moelis & Company in the 3rd quarter valued at $26,000. GAMMA Investing LLC lifted its holdings in shares of Moelis & Company by 115.8% during the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after acquiring an additional 534 shares during the period. Blue Trust Inc. boosted its stake in shares of Moelis & Company by 193.0% in the 3rd quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after purchasing an additional 712 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Moelis & Company in the 3rd quarter worth about $75,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Moelis & Company by 75.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the asset manager’s stock worth $83,000 after purchasing an additional 629 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Stock Down 4.3 %

Moelis & Company stock opened at $71.52 on Monday. The business’s 50-day simple moving average is $74.71 and its 200 day simple moving average is $68.60. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 134.94 and a beta of 1.39. Moelis & Company has a 12-month low of $46.24 and a 12-month high of $81.60.

Moelis & Company (NYSE:MC) last issued its 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. The company had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. As a group, sell-side analysts expect that Moelis & Company will post 0.96 EPS for the current year.

Moelis & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on MC. Keefe, Bruyette & Woods upgraded shares of Moelis & Company from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $71.00 to $86.00 in a research report on Friday, December 20th. 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 report on Monday, December 9th. UBS Group lifted their price objective on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company increased their target price on Moelis & Company from $70.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $70.83.

Moelis & Company Profile

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.