Y Intercept Hong Kong Ltd Buys 44,844 Shares of Moelis & Company $MC

Y Intercept Hong Kong Ltd grew its stake in shares of Moelis & Company (NYSE:MC) by 183.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 69,228 shares of the asset manager’s stock after acquiring an additional 44,844 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Moelis & Company were worth $4,314,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. eCIO Inc. bought a new stake in shares of Moelis & Company during the 1st quarter worth $50,000. GAMMA Investing LLC lifted its position in shares of Moelis & Company by 38.9% during the 1st quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager’s stock worth $95,000 after buying an additional 457 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Moelis & Company during the 1st quarter worth $107,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Moelis & Company during the 1st quarter worth $124,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Moelis & Company by 10.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,241 shares of the asset manager’s stock worth $202,000 after buying an additional 298 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Moelis & Company in a research report on Thursday, October 9th. They set a “buy” rating and a $80.00 price objective for the company. Wells Fargo & Company upped their target price on Moelis & Company from $50.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Morgan Stanley upped their target price on Moelis & Company from $74.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Moelis & Company in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lowered their target price on Moelis & Company from $89.00 to $80.00 and set a “moderate buy” rating for the company in a report on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.86.

Moelis & Company Trading Down 0.8%

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

Insider Buying and Selling at Moelis & Company

In other news, Director Kenneth Shropshire sold 2,615 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $72.52, for a total value of $189,639.80. Following the completion of the sale, the director owned 7,109 shares of the company’s stock, valued at approximately $515,544.68. This represents a 26.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.40% of the company’s stock.

Moelis & Company 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.