New England Research & Management Inc. Invests $1.13 Million in Moelis & Company (NYSE:MC)

New England Research & Management Inc. purchased a new stake in shares of Moelis & Company (NYSE:MC) in the fourth quarter, HoldingsChannel reports. The firm purchased 15,225 shares of the asset manager’s stock, valued at approximately $1,125,000.

Several other institutional investors have also recently added to or reduced their stakes in MC. Assenagon Asset Management S.A. acquired a new position in Moelis & Company in the 3rd quarter valued at about $49,017,000. Pier Capital LLC purchased a new stake in shares of Moelis & Company in the third quarter valued at about $8,152,000. Jacobs Levy Equity Management Inc. acquired a new stake in Moelis & Company during the 3rd quarter valued at $6,970,000. Natixis Advisors LLC raised its stake in Moelis & Company by 13.7% in the 3rd quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock valued at $55,141,000 after purchasing an additional 96,720 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Moelis & Company by 322.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 98,000 shares of the asset manager’s stock valued at $6,714,000 after purchasing an additional 74,800 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Price Performance

MC stock opened at $77.32 on Thursday. Moelis & Company has a fifty-two week low of $46.24 and a fifty-two week high of $81.60. The stock has a market capitalization of $5.79 billion, a PE ratio of 145.89 and a beta of 1.39. The company has a 50 day moving average price of $75.18 and a 200 day moving average price of $70.22.

Analysts Set New Price Targets

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