Edgestream Partners L.P. Purchases New Stake in Moelis & Company (NYSE:MC)

Edgestream Partners L.P. bought a new position in Moelis & Company (NYSE:MC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,660 shares of the asset manager’s stock, valued at approximately $719,000.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Moelis & Company by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,787,483 shares of the asset manager’s stock worth $351,449,000 after purchasing an additional 28,446 shares during the last quarter. Wasatch Advisors LP increased its position in Moelis & Company by 4.9% in the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock worth $194,020,000 after purchasing an additional 159,797 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Moelis & Company by 11.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock worth $189,404,000 after purchasing an additional 334,620 shares during the last quarter. Madison Asset Management LLC increased its position in Moelis & Company by 4.5% in the 4th quarter. Madison Asset Management LLC now owns 1,399,649 shares of the asset manager’s stock worth $78,562,000 after purchasing an additional 60,455 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Moelis & Company by 5.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock worth $63,483,000 after purchasing an additional 55,402 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MC has been the subject of several recent analyst reports. UBS Group upped their price target on Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Morgan Stanley upped their price target on Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 price target (down from $58.00) on shares of Moelis & Company in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. dropped their price target on Moelis & Company from $54.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and an average target price of $54.60.

Moelis & Company Trading Down 0.9 %

Shares of NYSE:MC traded down $0.61 during midday trading on Wednesday, hitting $64.18. The company had a trading volume of 314,592 shares, compared to its average volume of 600,096. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $68.50. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of -341.00 and a beta of 1.35. The firm has a fifty day simple moving average of $57.07 and a 200 day simple moving average of $55.16.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.11. Moelis & Company had a negative return on equity of 0.12% and a negative net margin of 1.33%. The business had revenue of $217.49 million for the quarter, compared to analyst estimates of $219.30 million. During the same period last year, the company earned $0.05 EPS. The firm’s revenue was up 17.4% on a year-over-year basis. Equities analysts forecast that Moelis & Company will post 1.12 EPS for the current fiscal year.

Insider Transactions at Moelis & Company

In other news, insider Navid Mahmoodzadegan sold 44,980 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $54.92, for a total value of $2,470,301.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Moelis & Company news, CEO Kenneth Moelis sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the transaction, the chief executive officer now owns 42,441 shares of the company’s stock, valued at $2,290,965.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $54.92, for a total value of $2,470,301.60. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

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.