Hennion & Walsh Asset Management Inc. Sells 2,619 Shares of Moelis & Company (NYSE:MC)

Hennion & Walsh Asset Management Inc. lessened its stake in shares of Moelis & Company (NYSE:MC) by 8.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,255 shares of the asset manager’s stock after selling 2,619 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Moelis & Company were worth $1,867,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Private Advisor Group LLC increased its position in Moelis & Company by 30.6% in the third quarter. Private Advisor Group LLC now owns 6,594 shares of the asset manager’s stock worth $452,000 after buying an additional 1,544 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Moelis & Company in the 3rd quarter worth about $75,000. Everence Capital Management Inc. raised its stake in Moelis & Company by 22.8% in the 3rd quarter. Everence Capital Management Inc. now owns 9,440 shares of the asset manager’s stock valued at $647,000 after acquiring an additional 1,750 shares during the period. Raymond James & Associates raised its stake in Moelis & Company by 0.6% in the 3rd quarter. Raymond James & Associates now owns 372,919 shares of the asset manager’s stock valued at $25,549,000 after acquiring an additional 2,053 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Moelis & Company by 193.0% during the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after purchasing an additional 712 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Insider Activity at Moelis & Company

In other news, Director Kenneth Shropshire sold 495 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the transaction, the director now owns 9,372 shares of the company’s stock, valued at $649,385.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Moelis & Company news, CEO Kenneth Moelis sold 5,308 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the completion of the sale, the chief executive officer now owns 86 shares of the company’s stock, valued at $5,922.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total transaction of $34,298.55. Following the transaction, the director now directly owns 9,372 shares in the company, valued at $649,385.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. UBS Group increased their target price on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Wells Fargo & Company started coverage on Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target for the company. Finally, Morgan Stanley decreased their price objective on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Moelis & Company has a consensus rating of “Hold” and a consensus target price of $60.83.

Moelis & Company Price Performance

MC opened at $65.89 on Friday. The firm has a market capitalization of $4.93 billion, a P/E ratio of 439.27 and a beta of 1.33. Moelis & Company has a one year low of $39.08 and a one year high of $72.80. The company has a fifty day moving average price of $67.53 and a 200-day moving average price of $60.69.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) earnings per share. On average, analysts expect that Moelis & Company will post 0.98 earnings per share for the current year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, November 4th. Moelis & Company’s payout ratio is 1,600.00%.

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.