Moelis & Company $MC Position Boosted by AlphaQuest LLC

AlphaQuest LLC lifted its holdings in Moelis & Company (NYSE:MC) by 354.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,789 shares of the asset manager’s stock after purchasing an additional 33,367 shares during the period. AlphaQuest LLC owned about 0.05% of Moelis & Company worth $3,052,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in Moelis & Company by 89.5% in the second quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock worth $37,000 after buying an additional 282 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Moelis & Company by 103.0% during the 3rd quarter. Global Retirement Partners LLC now owns 544 shares of the asset manager’s stock worth $39,000 after acquiring an additional 276 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Moelis & Company by 44.0% in the 3rd quarter. Private Trust Co. NA now owns 599 shares of the asset manager’s stock worth $43,000 after acquiring an additional 183 shares during the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Moelis & Company in the 3rd quarter worth $46,000. Finally, Canton Hathaway LLC acquired a new stake in shares of Moelis & Company during the second quarter worth $51,000. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Price Performance

NYSE MC opened at $71.64 on Friday. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.85. The company has a 50 day simple moving average of $70.70 and a 200-day simple moving average of $69.97. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $82.89.

Moelis & Company (NYSE:MC) last released its quarterly earnings data on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.11. Moelis & Company had a net margin of 15.98% and a return on equity of 45.62%. The firm had revenue of $356.89 million for the quarter, compared to analyst estimates of $336.14 million. During the same quarter in the prior year, the business earned $0.22 EPS. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. On average, analysts predict that Moelis & Company will post 2.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MC shares. Keefe, Bruyette & Woods lowered Moelis & Company from an “outperform” rating to a “market perform” rating and increased their price target for the company from $78.00 to $80.00 in a research report on Tuesday, December 16th. BMO Capital Markets initiated coverage on shares of Moelis & Company in a research note on Friday, October 3rd. They set a “market perform” rating and a $74.00 price objective for the company. UBS Group raised their target price on shares of Moelis & Company from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Bank of America began coverage on shares of Moelis & Company in a report on Monday. They set a “neutral” rating and a $81.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Moelis & Company in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.00.

Moelis & 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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.