Salvus Wealth Management LLC Sells 500 Shares of Moelis & Company (NYSE:MC)

Salvus Wealth Management LLC cut its position in Moelis & Company (NYSE:MC) by 0.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 61,653 shares of the asset manager’s stock after selling 500 shares during the period. Moelis & Company makes up about 2.4% of Salvus Wealth Management LLC’s investment portfolio, making the stock its 15th largest position. Salvus Wealth Management LLC’s holdings in Moelis & Company were worth $3,500,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Moelis & Company by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,787,483 shares of the asset manager’s stock valued at $351,449,000 after buying an additional 28,446 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Moelis & Company by 11.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock valued at $189,404,000 after buying an additional 334,620 shares during the period. Madison Asset Management LLC raised its position in shares of Moelis & Company by 4.5% in the 4th quarter. Madison Asset Management LLC now owns 1,399,649 shares of the asset manager’s stock valued at $78,562,000 after buying an additional 60,455 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Moelis & Company by 32.7% during the 3rd quarter. Northern Trust Corp now owns 927,705 shares of the asset manager’s stock worth $41,867,000 after acquiring an additional 228,840 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Moelis & Company by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 814,568 shares of the asset manager’s stock worth $45,722,000 after acquiring an additional 21,839 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on MC shares. UBS Group boosted their price objective on shares of Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, April 25th. The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and lifted their target price for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $54.00 price target (down from $58.00) on shares of Moelis & Company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company presently has a consensus rating of “Hold” and a consensus price target of $50.80.

Moelis & Company Stock Down 0.1 %

Shares of NYSE MC traded down $0.06 during trading on Tuesday, reaching $53.10. The company had a trading volume of 6,896 shares, compared to its average volume of 594,167. The company’s fifty day moving average price is $53.86 and its 200-day moving average price is $54.57. The stock has a market cap of $3.97 billion, a P/E ratio of -278.89 and a beta of 1.35. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $58.67.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The company had revenue of $217.49 million for the quarter, compared to analyst estimates of $219.30 million. During the same period in the prior year, the firm posted $0.05 EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts predict that Moelis & Company will post 1.27 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, May 6th were paid a $0.60 dividend. The ex-dividend date was Friday, May 3rd. This represents a $2.40 annualized dividend and a dividend yield of 4.52%. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Insider Activity

In other news, insider Navid Mahmoodzadegan sold 44,980 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Moelis & Company news, insider Navid Mahmoodzadegan sold 44,980 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $54.92, for a total transaction of $2,470,301.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth Moelis sold 40,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the transaction, the chief executive officer now owns 42,441 shares in the company, valued at $2,290,965.18. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Moelis & Company 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.