Salvus Wealth Management LLC Cuts Stake in Moelis & Company (NYSE:MC)

Salvus Wealth Management LLC lessened its holdings in shares of Moelis & Company (NYSE:MC) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 portfolio, making the stock its 15th biggest holding. Salvus Wealth Management LLC owned about 0.09% of Moelis & Company worth $3,500,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mendota Financial Group LLC purchased a new position in Moelis & Company during the 4th quarter worth approximately $34,000. GAMMA Investing LLC acquired a new stake in Moelis & Company during the 4th quarter worth about $34,000. Assetmark Inc. raised its stake in shares of Moelis & Company by 22.5% during the 4th quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock valued at $84,000 after buying an additional 276 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Moelis & Company in the third quarter worth about $99,000. Finally, International Assets Investment Management LLC grew its holdings in Moelis & Company by 890.4% during the fourth quarter. International Assets Investment Management LLC now owns 3,199 shares of the asset manager’s stock worth $180,000 after acquiring an additional 2,876 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and increased their target price for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. UBS Group lifted their target price 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. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $54.00 target price (down previously from $58.00) on shares of Moelis & Company in a report 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. According to data from MarketBeat, Moelis & Company has a consensus rating of “Hold” and a consensus target price of $50.80.

Insider Transactions at Moelis & Company

In related news, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the sale, the chief executive officer now directly owns 42,441 shares in the company, valued at approximately $2,290,965.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Kenneth Moelis sold 40,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total value of $2,159,200.00. Following the completion of the sale, the chief executive officer now owns 42,441 shares in the company, valued at approximately $2,290,965.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the stock in a transaction 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 disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Moelis & Company Price Performance

Shares of NYSE MC traded down $0.06 during mid-day trading on Tuesday, hitting $53.10. The company had a trading volume of 6,896 shares, compared to its average volume of 594,167. The company has a market capitalization of $3.97 billion, a PE ratio of -278.89 and a beta of 1.35. The business’s 50-day simple moving average is $53.86 and its 200 day simple moving average is $54.57. Moelis & Company has a 1-year low of $38.58 and a 1-year high of $58.67.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The firm had revenue of $217.49 million for the quarter, compared to analyst estimates of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. During the same period in the prior year, the firm earned $0.05 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, analysts expect that Moelis & Company will post 1.27 EPS for the current year.

Moelis & Company Dividend Announcement

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

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.