Whittier Trust Co. of Nevada Inc. Invests $75,000 in Moelis & Company (NYSE:MC)

Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Moelis & Company (NYSE:MC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,099 shares of the asset manager’s stock, valued at approximately $75,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of Moelis & Company by 63.5% during the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after purchasing an additional 193 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in Moelis & Company by 147.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after acquiring an additional 392 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Moelis & Company by 510.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 699 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Moelis & Company by 115.8% in the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock worth $68,000 after acquiring an additional 534 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Moelis & Company by 193.0% during the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock worth $74,000 after purchasing an additional 712 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Trading Down 3.1 %

NYSE:MC opened at $68.22 on Thursday. Moelis & Company has a 1-year low of $38.58 and a 1-year high of $72.80. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of -359.05 and a beta of 1.33. The business’s 50-day moving average price is $67.45 and its two-hundred day moving average price is $60.58.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The business had revenue of $264.59 million for the quarter, compared to the consensus estimate of $227.90 million. During the same period last year, the company posted ($0.04) EPS. Moelis & Company’s revenue for the quarter was up 47.1% on a year-over-year basis. Sell-side analysts predict that Moelis & Company will post 1.08 earnings per share for the current year.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the sale, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the transaction, the director now directly owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth Moelis sold 5,308 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the completion of the sale, the chief executive officer now owns 86 shares of the company’s stock, valued at $5,922.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MC. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Wells Fargo & Company assumed coverage on Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. UBS Group raised their price target on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, Morgan Stanley raised their target price on shares of Moelis & Company from $61.00 to $67.00 and gave the company an “underweight” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, Moelis & Company has a consensus rating of “Hold” and a consensus target price of $61.00.

Moelis & Company Company Profile

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.