Moelis & Company (NYSE:MC) PT Lowered to $66.00

Moelis & Company (NYSE:MC) had its price objective lowered by analysts at Morgan Stanley from $67.00 to $66.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s price objective indicates a potential upside of 0.17% from the company’s current price.

MC has been the topic of several other reports. JPMorgan Chase & Co. upped their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Wells Fargo & Company initiated coverage on Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock. UBS Group boosted their price target on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Moelis & Company has a consensus rating of “Hold” and a consensus target price of $60.83.

Moelis & Company Trading Down 1.6 %

Shares of MC stock opened at $65.89 on Thursday. The firm’s fifty day moving average price is $67.53 and its two-hundred day moving average price is $60.69. Moelis & Company has a 1 year low of $39.08 and a 1 year high of $72.80. The firm has a market capitalization of $4.93 billion, a P/E ratio of 439.27 and a beta of 1.33.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The business had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. During the same quarter last year, the company posted ($0.15) earnings per share. Moelis & Company’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts forecast that Moelis & Company will post 0.98 EPS for the current fiscal year.

Insider Buying and Selling at Moelis & Company

In other news, Director Kenneth Shropshire sold 495 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the sale, the director now directly owns 9,372 shares in the company, valued at $649,385.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Moelis & Company news, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total value of $365,561.96. Following the sale, the chief executive officer now owns 86 shares of the company’s stock, valued at approximately $5,922.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth Shropshire sold 495 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the transaction, the director now owns 9,372 shares in the company, valued at approximately $649,385.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Moelis & Company

Several institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. increased its holdings in shares of Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after purchasing an additional 193 shares during the period. Hexagon Capital Partners LLC lifted its stake in Moelis & Company by 147.9% during the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after purchasing an additional 392 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Moelis & Company by 510.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock valued at $47,000 after buying an additional 699 shares in the last quarter. GAMMA Investing LLC grew its position in Moelis & Company by 115.8% during the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after acquiring an additional 534 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of 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 purchasing an additional 712 shares in the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

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.