NewEdge Wealth LLC Sells 8,819 Shares of Moelis & Company (NYSE:MC)

NewEdge Wealth LLC decreased its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,741 shares of the asset manager's stock after selling 8,819 shares during the period. NewEdge Wealth LLC owned 0.07% of Moelis & Company worth $3,675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MC. OneDigital Investment Advisors LLC boosted its stake in shares of Moelis & Company by 1.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 13,812 shares of the asset manager's stock valued at $946,000 after purchasing an additional 172 shares in the last quarter. GAMMA Investing LLC boosted its position in Moelis & Company by 18.1% during the 4th quarter. GAMMA Investing LLC now owns 1,175 shares of the asset manager's stock valued at $87,000 after acquiring an additional 180 shares in the last quarter. Choreo LLC boosted its position in Moelis & Company by 4.0% during the 4th quarter. Choreo LLC now owns 4,831 shares of the asset manager's stock valued at $358,000 after acquiring an additional 187 shares in the last quarter. Heritage Family Offices LLP grew its holdings in shares of Moelis & Company by 5.0% during the 4th quarter. Heritage Family Offices LLP now owns 4,464 shares of the asset manager's stock worth $330,000 after acquiring an additional 213 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Moelis & Company by 0.4% in the 3rd quarter. Fisher Asset Management LLC now owns 62,570 shares of the asset manager's stock worth $4,287,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company's stock.

Insider Buying and Selling at Moelis & Company

In related news, insider Christopher Callesano sold 1,282 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total transaction of $94,868.00. Following the completion of the sale, the insider now directly owns 1,227 shares in the company, valued at approximately $90,798. The trade was a 51.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Ciafone Katherine Pilcher sold 3,515 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total transaction of $260,110.00. Following the sale, the chief operating officer now directly owns 3,934 shares of the company's stock, valued at approximately $291,116. This represents a 47.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,721 shares of company stock worth $1,677,017. Insiders own 6.40% of the company's stock.

Moelis & Company Price Performance

NYSE MC traded down $2.92 during trading hours on Tuesday, hitting $65.26. The company's stock had a trading volume of 741,898 shares, compared to its average volume of 792,910. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $82.89. The company's 50 day simple moving average is $75.27 and its two-hundred day simple moving average is $72.08. The company has a market cap of $4.89 billion, a P/E ratio of 36.97 and a beta of 1.40.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.79. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. As a group, research analysts predict that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 18th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Tuesday, February 18th. This is an increase from Moelis & Company's previous quarterly dividend of $0.60. Moelis & Company's payout ratio is 147.73%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MC shares. The Goldman Sachs Group upped their price target on Moelis & Company from $79.00 to $87.00 and gave the stock a "neutral" rating in a research note on Thursday, February 6th. StockNews.com downgraded shares of Moelis & Company from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Wells Fargo & Company increased their price target on shares of Moelis & Company from $77.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. JMP Securities reissued a "market perform" rating on shares of Moelis & Company in a research note on Thursday, February 6th. Finally, Morgan Stanley boosted their price target on Moelis & Company from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Moelis & Company currently has a consensus rating of "Hold" and an average price target of $78.83.

Moelis & Company Profile

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.