Mutual of America Capital Management LLC Sells 50,743 Shares of Moelis & Company $MC

Mutual of America Capital Management LLC lessened its position in Moelis & Company (NYSE:MC) by 84.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,530 shares of the asset manager’s stock after selling 50,743 shares during the period. Mutual of America Capital Management LLC’s holdings in Moelis & Company were worth $594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MC. GAMMA Investing LLC lifted its stake in Moelis & Company by 38.9% during the first quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager’s stock worth $95,000 after purchasing an additional 457 shares during the last quarter. Versor Investments LP acquired a new stake in Moelis & Company in the first quarter valued at about $1,432,000. Diversify Wealth Management LLC grew its position in Moelis & Company by 29.4% in the first quarter. Diversify Wealth Management LLC now owns 76,298 shares of the asset manager’s stock valued at $4,067,000 after acquiring an additional 17,322 shares during the last quarter. Pinnacle Financial Partners Inc acquired a new position in Moelis & Company during the first quarter worth about $334,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Moelis & Company by 1.9% in the first quarter. Vanguard Group Inc. now owns 8,305,688 shares of the asset manager’s stock worth $484,720,000 after acquiring an additional 158,373 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MC has been the subject of a number of recent research reports. Zacks Research downgraded Moelis & Company from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Moelis & Company in a research report on Thursday, October 9th. They set a “buy” rating and a $80.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Moelis & Company in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods dropped their price target on shares of Moelis & Company from $89.00 to $80.00 and set a “moderate buy” rating on the stock in a research report on Monday, October 13th. Finally, BMO Capital Markets began coverage on Moelis & Company in a research report on Friday, October 3rd. They issued a “market perform” rating and a $74.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and a consensus price target of $71.86.

Insiders Place Their Bets

In related news, Director Kenneth Shropshire sold 2,615 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $72.52, for a total value of $189,639.80. Following the transaction, the director owned 7,109 shares of the company’s stock, valued at approximately $515,544.68. This trade represents a 26.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.40% of the company’s stock.

Moelis & Company Price Performance

MC stock opened at $72.06 on Tuesday. The company has a market cap of $5.66 billion, a P/E ratio of 28.37 and a beta of 1.77. The firm has a 50-day moving average of $71.02 and a 200 day moving average of $64.80. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89.

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.