Entropy Technologies LP Buys Shares of 16,841 Moelis & Company $MC

Key Points

• Entropy Technologies LP purchased 16,841 shares of Moelis & Company during the first quarter, valued at approximately $960,000. Institutional investors collectively own 91.53% of the company.
• Moelis reported quarterly EPS of $0.50, below the $0.59 analyst consensus, while revenue rose 4.3% year over year to $319.78 million.
• Analyst sentiment remains cautious: the stock carries a consensus “Hold” rating with a $73.38 price target, while shares recently opened at $68.40.

Entropy Technologies LP purchased a new stake in shares of Moelis & Company (NYSE:MC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 16,841 shares of the asset manager's stock, valued at approximately $960,000.

Other institutional investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its holdings in Moelis & Company by 9.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,799 shares of the asset manager's stock worth $280,000 after acquiring an additional 432 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Moelis & Company by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,080 shares of the asset manager's stock valued at $2,456,000 after purchasing an additional 1,839 shares during the last quarter. United Services Automobile Association purchased a new stake in Moelis & Company during the first quarter valued at about $264,000. Empowered Funds LLC boosted its position in Moelis & Company by 37.6% during the first quarter. Empowered Funds LLC now owns 42,828 shares of the asset manager's stock worth $2,499,000 after purchasing an additional 11,692 shares during the period. Finally, Creative Planning boosted its position in Moelis & Company by 14.2% during the second quarter. Creative Planning now owns 6,639 shares of the asset manager's stock worth $414,000 after purchasing an additional 827 shares during the period. Hedge funds and other institutional investors own 91.53% of the company's stock.

Moelis & Company Stock Performance

Shares of MC opened at $68.40 on Wednesday. Moelis & Company has a 52-week low of $51.06 and a 52-week high of $78.22. The stock's 50-day simple moving average is $67.15 and its 200 day simple moving average is $65.40. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 0.86 and a beta of 1.85.

Moelis & Company (NYSE:MC - Get Free Report) last posted its earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.09). Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The company had revenue of $319.78 million for the quarter, compared to analysts' expectations of $321.51 million. During the same period in the previous year, the firm earned $0.64 EPS. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts forecast that Moelis & Company will post 3.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MC shares. Keefe, Bruyette & Woods reduced their target price on shares of Moelis & Company from $69.00 to $66.00 and set a "market perform" rating for the company in a research note on Friday, July 10th. The Goldman Sachs Group dropped their price target on shares of Moelis & Company from $70.00 to $62.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings downgraded shares of Moelis & Company from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 26th. Wall Street Zen lowered shares of Moelis & Company from a "hold" rating to a "sell" rating in a research note on Saturday, May 2nd. Finally, Morgan Stanley lowered their target price on shares of Moelis & Company from $90.00 to $83.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Two research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $73.38.

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. 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.

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