Jennison Associates LLC Reduces Holdings in Moelis & Company (NYSE:MC)

Jennison Associates LLC lowered its position in Moelis & Company (NYSE:MC) by 1.3% in the 4th quarter, HoldingsChannel reports. The fund owned 87,109 shares of the asset manager’s stock after selling 1,125 shares during the period. Jennison Associates LLC’s holdings in Moelis & Company were worth $6,436,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new position in shares of Moelis & Company in the third quarter worth about $26,000. R Squared Ltd bought a new position in Moelis & Company in the 4th quarter worth approximately $47,000. GAMMA Investing LLC grew its stake in Moelis & Company by 115.8% in the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after buying an additional 534 shares in the last quarter. Blue Trust Inc. grew its stake in Moelis & Company by 193.0% in the 3rd quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after buying an additional 712 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Moelis & Company during the 3rd quarter valued at $75,000. 91.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Morgan Stanley upgraded 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 report on Monday, December 9th. Wells Fargo & Company reduced their target price on Moelis & Company from $78.00 to $77.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods raised shares of Moelis & Company from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $71.00 to $86.00 in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $70.67.

Moelis & Company Stock Up 3.0 %

Shares of NYSE MC opened at $79.95 on Thursday. The stock’s 50-day simple moving average is $75.40 and its two-hundred day simple moving average is $70.67. Moelis & Company has a twelve month low of $46.24 and a twelve month high of $81.60. The firm has a market capitalization of $5.99 billion, a P/E ratio of 150.84 and a beta of 1.40.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.18 EPS for the quarter, topping the consensus estimate of $0.39 by $0.79. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. As a group, research analysts anticipate that Moelis & Company will post 1.05 EPS for the current fiscal year.

Moelis & Company Company Profile

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.