Capital Management Corp VA Cuts Stock Holdings in Moelis & Company $MC

Capital Management Corp VA reduced its stake in Moelis & Company (NYSE:MC) by 7.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 228,327 shares of the asset manager’s stock after selling 17,824 shares during the quarter. Moelis & Company makes up 2.6% of Capital Management Corp VA’s investment portfolio, making the stock its 17th largest holding. Capital Management Corp VA owned 0.29% of Moelis & Company worth $16,284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of MC. Azora Capital LP bought a new stake in shares of Moelis & Company in the 2nd quarter worth $46,762,000. The Manufacturers Life Insurance Company boosted its holdings in Moelis & Company by 1,161.8% during the second quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock worth $41,231,000 after purchasing an additional 609,162 shares during the last quarter. Norges Bank purchased a new position in Moelis & Company during the second quarter worth about $31,248,000. Geode Capital Management LLC grew its position in Moelis & Company by 26.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,052,862 shares of the asset manager’s stock worth $127,947,000 after purchasing an additional 424,138 shares in the last quarter. Finally, Tributary Capital Management LLC grew its holdings in shares of Moelis & Company by 91.2% in the third quarter. Tributary Capital Management LLC now owns 793,600 shares of the asset manager’s stock valued at $56,600,000 after acquiring an additional 378,636 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MC. Morgan Stanley increased their price target on shares of Moelis & Company from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Bank of America initiated coverage on Moelis & Company in a research note on Monday, January 26th. They issued a “neutral” rating and a $81.00 target price on the stock. UBS Group increased their price target on Moelis & Company from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lowered Moelis & Company from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $78.00 to $80.00 in a report on Tuesday, December 16th. Finally, Zacks Research downgraded shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.00.

Moelis & Company Stock Performance

Shares of Moelis & Company stock opened at $71.75 on Friday. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $82.89. The company’s 50 day moving average price is $70.88 and its 200-day moving average price is $69.98. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 0.61 and a beta of 1.85.

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

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.