Emerald Mutual Fund Advisers Trust increased its holdings in shares of Moelis & Company (NYSE:MC) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 741,792 shares of the asset manager’s stock after purchasing an additional 38,780 shares during the period. Moelis & Company accounts for about 1.2% of Emerald Mutual Fund Advisers Trust’s holdings, making the stock its 18th biggest holding. Emerald Mutual Fund Advisers Trust owned approximately 1.16% of Moelis & Company worth $34,686,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Westside Investment Management Inc. acquired a new position in Moelis & Company in the 3rd quarter worth $33,000. Wolff Wiese Magana LLC acquired a new position in Moelis & Company in the 4th quarter worth $41,000. Great West Life Assurance Co. Can lifted its holdings in Moelis & Company by 190.5% in the 3rd quarter. Great West Life Assurance Co. Can now owns 14,556 shares of the asset manager’s stock worth $42,000 after buying an additional 9,545 shares in the last quarter. Kinloch Capital LLC acquired a new position in Moelis & Company in the 4th quarter worth $59,000. Finally, Nachman Norwood & Parrott Inc acquired a new position in Moelis & Company in the 3rd quarter worth $73,000. 88.19% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Joseph Simon sold 6,984 shares of the business’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $38.10, for a total transaction of $266,090.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 17.99% of the stock is owned by corporate insiders.
Shares of NYSE:MC opened at $51.25 on Tuesday. Moelis & Company has a fifty-two week low of $22.11 and a fifty-two week high of $56.00. The firm has a 50-day simple moving average of $49.72 and a 200 day simple moving average of $38.83. The company has a market cap of $3.28 billion, a PE ratio of 40.67 and a beta of 1.33.
MC has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of Moelis & Company from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 11th. Seaport Global Securities initiated coverage on shares of Moelis & Company in a research note on Wednesday, December 16th. They issued a “neutral” rating on the stock. Piper Sandler upped their target price on shares of Moelis & Company from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, October 27th. JPMorgan Chase & Co. upgraded shares of Moelis & Company from an “underweight” rating to a “neutral” rating and upped their target price for the company from $34.00 to $50.00 in a research note on Thursday, January 7th. Finally, JMP Securities upped their target price on shares of Moelis & Company from $37.00 to $42.00 and gave the company a “market outperform” rating in a research note on Friday, October 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $40.89.
Moelis & Company Profile
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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