Salvus Wealth Management LLC Sells 11,068 Shares of Moelis & Company (NYSE:MC)

Salvus Wealth Management LLC lessened its position in Moelis & Company (NYSE:MC) by 23.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,559 shares of the asset manager’s stock after selling 11,068 shares during the period. Moelis & Company comprises about 1.7% of Salvus Wealth Management LLC’s portfolio, making the stock its 16th largest holding. Salvus Wealth Management LLC’s holdings in Moelis & Company were worth $2,701,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Choreo LLC bought a new position in Moelis & Company in the 2nd quarter valued at about $259,000. Envestnet Asset Management Inc. lifted its position in shares of Moelis & Company by 27.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 293,529 shares of the asset manager’s stock valued at $16,690,000 after acquiring an additional 62,444 shares during the period. Argent Trust Co raised its stake in Moelis & Company by 8.7% in the second quarter. Argent Trust Co now owns 7,145 shares of the asset manager’s stock valued at $406,000 after purchasing an additional 570 shares in the last quarter. Amalgamated Bank raised its position in shares of Moelis & Company by 2.6% in the 2nd quarter. Amalgamated Bank now owns 21,373 shares of the asset manager’s stock valued at $1,215,000 after buying an additional 535 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Moelis & Company by 3.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,390 shares of the asset manager’s stock worth $363,000 after acquiring an additional 193 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MC has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Moelis & Company from $78.00 to $77.00 and set an “equal weight” rating on the stock in a report on Tuesday. Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $66.00 to $92.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods raised shares of Moelis & Company from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $71.00 to $86.00 in a research note on Friday, December 20th. Finally, UBS Group upped their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $70.67.

Moelis & Company Trading Up 1.6 %

Shares of Moelis & Company stock opened at $76.45 on Friday. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $81.60. The firm has a market capitalization of $5.73 billion, a P/E ratio of 144.24 and a beta of 1.39. The business’s fifty day simple moving average is $74.78 and its 200 day simple moving average is $68.93.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The business had revenue of $273.76 million during the quarter, compared to the consensus estimate of $273.58 million. During the same period last year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Analysts predict that Moelis & Company will post 1.02 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Monday, November 4th. Moelis & Company’s payout ratio is presently 452.83%.

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.