Hodges Capital Management Inc. Purchases Shares of 123,840 Moelis & Company (NYSE:MC)

Hodges Capital Management Inc. acquired a new position in Moelis & Company (NYSE:MC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 123,840 shares of the asset manager’s stock, valued at approximately $9,149,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Reston Wealth Management LLC bought a new position in shares of Moelis & Company in the 3rd quarter worth about $26,000. R Squared Ltd acquired a new stake in Moelis & Company during the fourth quarter worth approximately $47,000. GAMMA Investing LLC increased its holdings in Moelis & Company by 115.8% in the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock worth $68,000 after purchasing an additional 534 shares in the last quarter. Blue Trust Inc. increased its holdings in Moelis & Company by 193.0% in the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock worth $74,000 after purchasing an additional 712 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Moelis & Company in the third quarter valued at approximately $75,000. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Stock Performance

Moelis & Company stock opened at $78.25 on Monday. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 147.64 and a beta of 1.40. The stock’s 50 day simple moving average is $75.31 and its two-hundred day simple moving average is $70.43. Moelis & Company has a fifty-two week low of $46.24 and a fifty-two week high of $81.60.

Wall Street Analysts Forecast Growth

MC has been the subject of several research analyst reports. UBS Group lifted their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Morgan Stanley raised shares of Moelis & Company from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $66.00 to $92.00 in a research note on Monday, December 9th. Wells Fargo & Company lowered their price objective on shares of 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 lifted their target price for the company from $71.00 to $86.00 in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Moelis & Company presently has an average rating of “Hold” and an average target price 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.