New York State Teachers Retirement System Purchases 7,732 Shares of Moelis & Company $MC

New York State Teachers Retirement System increased its position in Moelis & Company (NYSE:MC) by 46.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 24,232 shares of the asset manager’s stock after purchasing an additional 7,732 shares during the period. New York State Teachers Retirement System’s holdings in Moelis & Company were worth $1,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MC. Charles Schwab Investment Management Inc. raised its stake in Moelis & Company by 214.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,942,299 shares of the asset manager’s stock valued at $171,713,000 after buying an additional 2,006,747 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Moelis & Company by 32.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager’s stock valued at $137,548,000 after acquiring an additional 579,529 shares during the period. Jennison Associates LLC boosted its holdings in Moelis & Company by 457.0% in the first quarter. Jennison Associates LLC now owns 485,238 shares of the asset manager’s stock worth $28,318,000 after purchasing an additional 398,129 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Moelis & Company by 311.4% in the 1st quarter. Millennium Management LLC now owns 465,677 shares of the asset manager’s stock worth $27,177,000 after buying an additional 352,490 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Moelis & Company in the first quarter worth about $19,561,000. Institutional investors own 91.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Moelis & Company from $50.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods dropped their target price on shares of Moelis & Company from $89.00 to $80.00 and set a “moderate buy” rating for the company in a research report on Monday, October 13th. Zacks Research cut Moelis & Company from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Morgan Stanley boosted their target price on shares of Moelis & Company from $74.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Moelis & Company in a report on Thursday, October 9th. They set a “buy” rating and a $80.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.86.

Insiders Place Their Bets

In related news, General Counsel Osamu R. Watanabe sold 6,340 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $72.64, for a total transaction of $460,537.60. Following the sale, the general counsel owned 131 shares of the company’s stock, valued at $9,515.84. This trade represents a 97.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Shropshire sold 2,615 shares of Moelis & Company stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $72.52, for a total transaction of $189,639.80. Following the completion of the transaction, the director directly owned 7,109 shares in the company, valued at approximately $515,544.68. The trade was a 26.89% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Moelis & Company Stock Down 0.4%

MC opened at $68.73 on Thursday. The stock’s fifty day moving average is $71.15 and its two-hundred day moving average is $64.21. The company has a market capitalization of $5.40 billion, a P/E ratio of 27.06 and a beta of 1.77. Moelis & Company has a 52 week low of $47.00 and a 52 week high of $82.89.

Moelis & Company (NYSE:MC) last issued its earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.21. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. The company had revenue of $365.38 million for the quarter, compared to analysts’ expectations of $269.57 million. During the same period in the prior year, the business earned $0.18 EPS. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. Equities analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current year.

About Moelis & Company

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.