Apollon Wealth Management LLC Sells 851 Shares of Moelis & Company (NYSE:MC)

Apollon Wealth Management LLC trimmed its position in shares of Moelis & Company (NYSE:MC) by 9.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,640 shares of the asset manager’s stock after selling 851 shares during the quarter. Apollon Wealth Management LLC’s holdings in Moelis & Company were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MC. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Moelis & Company by 0.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager’s stock valued at $408,836,000 after acquiring an additional 47,365 shares during the period. Bank of New York Mellon Corp increased its position in shares of Moelis & Company by 4.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 755,541 shares of the asset manager’s stock valued at $42,960,000 after purchasing an additional 29,532 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Moelis & Company in the 3rd quarter worth approximately $49,017,000. Natixis Advisors LLC boosted its holdings in shares of Moelis & Company by 179.2% in the second quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock worth $40,265,000 after buying an additional 454,478 shares during the last quarter. Finally, Emerald Advisers LLC grew its position in Moelis & Company by 1.3% during the third quarter. Emerald Advisers LLC now owns 440,330 shares of the asset manager’s stock valued at $30,167,000 after buying an additional 5,844 shares during the period. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Moelis & Company Trading Down 2.1 %

NYSE MC opened at $74.69 on Friday. Moelis & Company has a 12 month low of $44.06 and a 12 month high of $81.60. The stock has a market cap of $5.60 billion, a PE ratio of 140.92 and a beta of 1.33. The stock’s 50 day moving average is $69.49 and its 200 day moving average is $62.86.

Moelis & Company (NYSE:MC) last released 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 firm had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. On average, analysts forecast that Moelis & Company will post 0.96 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.21%. Moelis & Company’s payout ratio is 452.83%.

Analysts Set New Price Targets

Several research analysts have weighed in on MC shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price target (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. UBS Group lifted their target price on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Wells Fargo & Company started coverage on Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target for the company. Morgan Stanley cut their price objective on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised 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. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Moelis & Company currently has a consensus rating of “Hold” and a consensus target price of $60.83.

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.