32,566 Shares in Moelis & Company $MC Bought by AlTi Global Inc.

Key Points

• AlTi Global Inc. purchased 32,566 shares of Moelis & Company, worth approximately $2,030,000, marking a significant new investment during the second quarter.
• Several hedge funds increased their stakes in Moelis & Company, with New York State Teachers Retirement System raising its share by 46.9% to own 24,232 shares valued at $1,510,000.
• Moelis & Company reported $0.53 earnings per share (EPS), exceeding analysts' estimates of $0.32, along with a revenue of $365.38 million, significantly higher than expected.

AlTi Global Inc. bought a new position in Moelis & Company (NYSE:MC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 32,566 shares of the asset manager's stock, valued at approximately $2,030,000.

Several other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System increased its stake in shares of Moelis & Company by 46.9% in the second quarter. New York State Teachers Retirement System now owns 24,232 shares of the asset manager's stock worth $1,510,000 after buying an additional 7,732 shares during the period. Capital Management Corp VA boosted its holdings in Moelis & Company by 17.4% in the second quarter. Capital Management Corp VA now owns 246,151 shares of the asset manager's stock valued at $15,340,000 after acquiring an additional 36,498 shares in the last quarter. Moran Wealth Management LLC bought a new stake in Moelis & Company in the second quarter valued at $2,358,000. Verdence Capital Advisors LLC boosted its holdings in Moelis & Company by 1.8% in the second quarter. Verdence Capital Advisors LLC now owns 39,358 shares of the asset manager's stock valued at $2,453,000 after acquiring an additional 683 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in Moelis & Company by 6.2% in the second quarter. Yousif Capital Management LLC now owns 28,397 shares of the asset manager's stock valued at $1,770,000 after acquiring an additional 1,662 shares in the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Moelis & Company

In related news, Director Kenneth Shropshire sold 2,615 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $72.52, for a total value of $189,639.80. Following the transaction, the director owned 7,109 shares in the company, valued at $515,544.68. The trade was a 26.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.40% of the stock is currently owned by insiders.

Moelis & Company Trading Up 2.9%

Shares of MC stock opened at $71.00 on Friday. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89. The stock has a market cap of $5.57 billion, a PE ratio of 27.95 and a beta of 1.77. The company's fifty day moving average price is $71.02 and its 200-day moving average price is $64.49.

Moelis & Company (NYSE:MC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.21. The company had revenue of $365.38 million for the quarter, compared to analysts' expectations of $269.57 million. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. Moelis & Company's revenue was up 38.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. On average, sell-side analysts forecast that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on MC. Deutsche Bank Aktiengesellschaft began coverage on shares of Moelis & Company in a report on Thursday, October 9th. They issued a "buy" rating and a $80.00 price target on the stock. BMO Capital Markets began coverage on shares of Moelis & Company in a report on Friday, October 3rd. They issued a "market perform" rating and a $74.00 price target on the stock. Keefe, Bruyette & Woods cut their price target on shares of Moelis & Company from $89.00 to $80.00 and set a "moderate buy" rating on the stock in a report on Monday, October 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Moelis & Company in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of Moelis & Company from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Moelis & Company currently has a consensus rating of "Hold" and an average target price of $71.86.

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.

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