Entropy Technologies LP Makes New Investment in Moelis & Company $MC

Entropy Technologies LP purchased a new stake in Moelis & Company (NYSE:MC) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 16,841 shares of the asset manager’s stock, valued at approximately $960,000.

A number of other hedge funds have also recently made changes to their positions in the company. Wasatch Advisors LP grew its position in Moelis & Company by 9.0% during the first quarter. Wasatch Advisors LP now owns 3,742,624 shares of the asset manager’s stock worth $213,330,000 after buying an additional 310,001 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Moelis & Company by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,194,479 shares of the asset manager’s stock valued at $219,588,000 after acquiring an additional 66,697 shares in the last quarter. State Street Corp raised its holdings in shares of Moelis & Company by 3.2% in the 2nd quarter. State Street Corp now owns 2,862,337 shares of the asset manager’s stock valued at $178,381,000 after acquiring an additional 89,143 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Moelis & Company by 6.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,396,230 shares of the asset manager’s stock valued at $149,333,000 after acquiring an additional 135,885 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Moelis & Company by 5.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,876,472 shares of the asset manager’s stock valued at $128,989,000 after acquiring an additional 89,365 shares during the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MC. Wall Street Zen lowered Moelis & Company from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Morgan Stanley dropped their target price on shares of Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. UBS Group reissued a “sell” rating and issued a $60.00 price target (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Finally, The Goldman Sachs Group decreased their price target on shares of Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.38.

Moelis & Company Trading Up 0.9%

MC opened at $68.40 on Wednesday. The stock has a 50-day moving average price of $67.15 and a 200-day moving average price of $65.40. Moelis & Company has a 12-month low of $51.06 and a 12-month high of $78.22. The stock has a market capitalization of $5.37 billion, a P/E ratio of 24.60, a PEG ratio of 0.86 and a beta of 1.85.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). The firm had revenue of $319.78 million for the quarter, compared to the consensus estimate of $321.51 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. Moelis & Company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. On average, equities research analysts predict that Moelis & Company will post 3.17 EPS 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. 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.