Atria Investments LLC lifted its position in shares of Moelis & Co (NYSE:MC) by 38.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,165 shares of the asset manager’s stock after purchasing an additional 2,260 shares during the quarter. Atria Investments LLC’s holdings in Moelis & Co were worth $447,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Advisory Services Network LLC raised its position in shares of Moelis & Co by 429.3% during the second quarter. Advisory Services Network LLC now owns 1,588 shares of the asset manager’s stock worth $101,000 after purchasing an additional 1,288 shares during the period. Massey Quick Simon & CO. LLC purchased a new stake in Moelis & Co in the 2nd quarter valued at $109,000. Northwest Bancshares Inc. purchased a new stake in Moelis & Co in the 2nd quarter valued at $212,000. Verition Fund Management LLC purchased a new stake in Moelis & Co in the 1st quarter valued at $223,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Moelis & Co in the 1st quarter valued at $242,000. 69.31% of the stock is currently owned by institutional investors.
In other news, Director Kenneth Shropshire sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $57.85, for a total transaction of $86,775.00. Following the completion of the sale, the director now directly owns 4,968 shares of the company’s stock, valued at approximately $287,398.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 29.91% of the company’s stock.
A number of equities research analysts recently commented on the company. Bank of America increased their price target on Moelis & Co from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Zacks Investment Research raised Moelis & Co from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Friday, July 27th. ValuEngine lowered Moelis & Co from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, UBS Group lowered their price target on Moelis & Co from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Monday, October 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Moelis & Co presently has an average rating of “Hold” and an average price target of $64.50.
NYSE MC opened at $50.81 on Friday. The firm has a market capitalization of $2.96 billion, a P/E ratio of 22.61 and a beta of 1.68. Moelis & Co has a 12 month low of $41.20 and a 12 month high of $67.65.
Moelis & Co (NYSE:MC) last announced its earnings results on Monday, July 23rd. The asset manager reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.21. Moelis & Co had a return on equity of 50.56% and a net margin of 8.14%. The firm had revenue of $220.41 million during the quarter, compared to analyst estimates of $183.64 million. During the same period last year, the firm posted $0.66 EPS. The business’s revenue was up 28.0% compared to the same quarter last year. As a group, equities analysts anticipate that Moelis & Co will post 2.76 earnings per share for the current fiscal year.
Moelis & Co Profile
Moelis & Company is a global investment bank. The firm provides services relating to mergers & acquisitions, recapitalization & restructuring, capital markets and financial institution advisory; private funds; shareholder defense and strategic alliances. The firm's expertise is into global energy; IPO advisory; technology, media, telecommunication sectors.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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