Moelis & Company (NYSE:MC) Stock Holdings Lessened by Salvus Wealth Management LLC

Salvus Wealth Management LLC reduced its holdings in Moelis & Company (NYSE:MC - Free Report) by 21.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 47,627 shares of the asset manager's stock after selling 12,823 shares during the quarter. Moelis & Company makes up 2.0% of Salvus Wealth Management LLC's portfolio, making the stock its 15th biggest position. Salvus Wealth Management LLC owned approximately 0.06% of Moelis & Company worth $3,263,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MC. Fulton Bank N.A. acquired a new stake in shares of Moelis & Company in the 3rd quarter worth about $207,000. GAMMA Investing LLC increased its holdings in shares of Moelis & Company by 115.8% in the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager's stock worth $68,000 after acquiring an additional 534 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Moelis & Company in the 2nd quarter worth about $554,000. Algert Global LLC acquired a new stake in shares of Moelis & Company in the 2nd quarter worth about $382,000. Finally, SkyView Investment Advisors LLC increased its holdings in shares of Moelis & Company by 1.4% in the 2nd quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager's stock worth $788,000 after acquiring an additional 188 shares during the period. 91.53% of the stock is currently owned by institutional investors.

Insider Activity at Moelis & Company

In related news, CEO Kenneth Moelis sold 5,308 shares of the firm's stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the transaction, the chief executive officer now owns 86 shares of the company's stock, valued at approximately $5,922.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Joseph Simon sold 6,723 shares of Moelis & Company stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $64.00, for a total value of $430,272.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the transaction, the chief executive officer now directly owns 86 shares in the company, valued at approximately $5,922.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,526 shares of company stock valued at $830,133. 6.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $60.00 target price (up previously from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Morgan Stanley raised their target price on shares of Moelis & Company from $61.00 to $67.00 and gave the company an "underweight" rating in a research note on Monday, September 23rd. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research note on Thursday, September 12th. They set an "equal weight" rating and a $70.00 target price on the stock. Finally, UBS Group raised their target price on shares of Moelis & Company from $47.00 to $50.00 and gave the company a "sell" rating in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $59.33.

Moelis & Company Stock Performance

Shares of MC stock traded down $2.06 during trading on Monday, hitting $66.63. 542,593 shares of the company were exchanged, compared to its average volume of 629,865. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -359.11 and a beta of 1.33. The business's 50-day simple moving average is $65.77 and its 200 day simple moving average is $59.41. Moelis & Company has a twelve month low of $38.58 and a twelve month high of $71.34.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, topping the consensus estimate of $0.11 by $0.07. The business had revenue of $264.59 million during the quarter, compared to analysts' expectations of $227.90 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The firm's quarterly revenue was up 47.1% compared to the same quarter last year. During the same period last year, the company posted ($0.04) earnings per share. On average, equities analysts forecast that Moelis & Company will post 1.08 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, August 5th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Monday, August 5th. Moelis & Company's payout ratio is presently -1,263.16%.

About Moelis & Company

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.

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