Y Intercept Hong Kong Ltd Has $4.31 Million Stock Position in Moelis & Company $MC

Y Intercept Hong Kong Ltd grew its stake in shares of Moelis & Company (NYSE:MC) by 183.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,228 shares of the asset manager’s stock after purchasing an additional 44,844 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.09% of Moelis & Company worth $4,314,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MC. GAMMA Investing LLC increased 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 purchasing an additional 457 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Moelis & Company by 42.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,663 shares of the asset manager’s stock worth $272,000 after acquiring an additional 1,393 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Moelis & Company during the 1st quarter worth approximately $3,331,000. Pinnacle Financial Partners Inc acquired a new position in shares of Moelis & Company during the 1st quarter worth approximately $334,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of Moelis & Company by 346.5% during the 1st quarter. Teacher Retirement System of Texas now owns 110,909 shares of the asset manager’s stock worth $6,473,000 after acquiring an additional 86,067 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MC shares. Keefe, Bruyette & Woods decreased their target price on Moelis & Company from $89.00 to $80.00 and set a “moderate buy” rating on the stock in a report on Monday, October 13th. Morgan Stanley boosted 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. Zacks Research lowered Moelis & Company from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Wells Fargo & Company boosted 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Moelis & Company in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.86.

Moelis & Company Price Performance

MC opened at $71.48 on Wednesday. The business has a fifty day simple moving average of $71.03 and a 200 day simple moving average of $64.94. The company has a market capitalization of $5.61 billion, a PE 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.

Insider Buying and Selling at Moelis & Company

In other news, Director Kenneth Shropshire sold 2,615 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was 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 represents a 26.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.