AlphaQuest LLC Sells 22,649 Shares of Moelis & Company $MC

AlphaQuest LLC lessened its position in shares of Moelis & Company (NYSE:MC) by 70.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,422 shares of the asset manager’s stock after selling 22,649 shares during the period. AlphaQuest LLC’s holdings in Moelis & Company were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. eCIO Inc. bought a new position in shares of Moelis & Company in the 1st quarter worth $50,000. GAMMA Investing LLC boosted its stake in shares of Moelis & Company by 38.9% in the 1st quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager’s stock valued at $95,000 after purchasing an additional 457 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Moelis & Company in the 1st quarter valued at $107,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Moelis & Company in the 1st quarter valued at $124,000. Finally, Petrus Trust Company LTA purchased a new stake in shares of Moelis & Company in the 1st quarter valued at $221,000. 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. Morgan Stanley upped their price objective on shares of Moelis & Company from $74.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Moelis & Company in a research note on Thursday, October 9th. They issued a “buy” rating and a $80.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Moelis & Company in a research note on Wednesday, October 8th. Zacks Research cut shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Finally, BMO Capital Markets assumed coverage on shares of Moelis & Company in a research note on Friday, October 3rd. They issued a “market perform” rating and a $74.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $71.86.

Moelis & Company Price Performance

Shares of Moelis & Company stock opened at $71.48 on Wednesday. The company has a 50-day moving average of $71.03 and a 200 day moving average of $64.94. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 28.14 and a beta of 1.77. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89.

Insiders Place Their Bets

In other Moelis & Company news, Director Kenneth Shropshire sold 2,615 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $72.52, for a total transaction of $189,639.80. Following the completion of the sale, the director directly owned 7,109 shares in the company, valued at approximately $515,544.68. This trade represents a 26.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

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.