Salvus Wealth Management LLC Sells 8,811 Shares of Moelis & Company (NYSE:MC)

Salvus Wealth Management LLC decreased its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 24.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,748 shares of the asset manager's stock after selling 8,811 shares during the period. Salvus Wealth Management LLC's holdings in Moelis & Company were worth $1,619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC grew its stake in shares of Moelis & Company by 52.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after purchasing an additional 137 shares during the period. Arizona State Retirement System increased its holdings in Moelis & Company by 0.8% during the fourth quarter. Arizona State Retirement System now owns 20,420 shares of the asset manager's stock valued at $1,509,000 after buying an additional 163 shares during the last quarter. Choreo LLC raised its position in Moelis & Company by 4.0% in the fourth quarter. Choreo LLC now owns 4,831 shares of the asset manager's stock worth $358,000 after acquiring an additional 187 shares during the period. Peak Financial Advisors LLC raised its position in Moelis & Company by 2.4% in the first quarter. Peak Financial Advisors LLC now owns 8,567 shares of the asset manager's stock worth $500,000 after acquiring an additional 204 shares during the period. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Moelis & Company by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,394 shares of the asset manager's stock worth $546,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 91.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MC. JPMorgan Chase & Co. reduced their price objective on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $92.00 price target (up previously from $86.00) on shares of Moelis & Company in a research report on Thursday, February 6th. The Goldman Sachs Group lifted their price objective on Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered shares of Moelis & Company from a "buy" rating to a "hold" rating in a report on Thursday, March 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Moelis & Company presently has a consensus rating of "Hold" and an average price target of $59.83.

Moelis & Company Stock Up 3.2%

NYSE:MC traded up $1.81 on Friday, reaching $59.12. 518,786 shares of the company's stock traded hands, compared to its average volume of 776,043. The stock has a 50-day simple moving average of $54.90 and a 200-day simple moving average of $66.18. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89. The firm has a market cap of $4.64 billion, a PE ratio of 33.59 and a beta of 1.64.

Moelis & Company (NYSE:MC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The company had revenue of $306.59 million for the quarter, compared to the consensus estimate of $309.67 million. During the same quarter last year, the company earned $0.22 EPS. The firm's quarterly revenue was up 41.0% on a year-over-year basis. On average, equities analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 5th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Monday, May 5th. Moelis & Company's dividend payout ratio (DPR) is presently 119.27%.

Moelis & Company 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.