New England Research & Management Inc. Buys New Shares in Moelis & Company (NYSE:MC)

New England Research & Management Inc. purchased a new position in shares of Moelis & Company (NYSE:MC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,225 shares of the asset manager’s stock, valued at approximately $1,125,000.

A number of other large investors have also recently bought and sold shares of MC. Bank of Montreal Can raised its position in shares of Moelis & Company by 2.7% during the second quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager’s stock worth $409,000 after acquiring an additional 192 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Moelis & Company by 10.5% in the second quarter. Xponance Inc. now owns 4,501 shares of the asset manager’s stock valued at $256,000 after purchasing an additional 426 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Moelis & Company by 12.3% in the second quarter. The Manufacturers Life Insurance Company now owns 54,462 shares of the asset manager’s stock valued at $3,097,000 after purchasing an additional 5,954 shares in the last quarter. Algert Global LLC acquired a new position in shares of Moelis & Company during the 2nd quarter worth approximately $382,000. Finally, Sanctuary Advisors LLC bought a new stake in Moelis & Company during the second quarter worth $554,000. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Price Performance

NYSE:MC opened at $77.32 on Thursday. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 145.89 and a beta of 1.39. The business has a 50 day moving average of $75.18 and a 200 day moving average of $70.22. Moelis & Company has a 1-year low of $46.24 and a 1-year high of $81.60.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MC shares. Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $66.00 to $92.00 in a research note on Monday, December 9th. UBS Group upped their target price on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Wells Fargo & Company cut their price objective on Moelis & Company from $78.00 to $77.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods raised Moelis & Company from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $71.00 to $86.00 in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.67.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.