Moelis & Company (NYSE:MC) had its target price increased by Morgan Stanley from $52.00 to $55.00 in a research report sent to investors on Monday morning, Analyst Ratings Network reports. They currently have an equal weight rating on the asset manager’s stock.
Other equities analysts have also recently issued reports about the company. BidaskClub cut Moelis & Company from a strong-buy rating to a buy rating in a research report on Wednesday, December 30th. Piper Sandler lifted their price target on Moelis & Company from $37.00 to $41.00 and gave the company a neutral rating in a research report on Tuesday, October 27th. TheStreet upgraded Moelis & Company from a c rating to a b rating in a research report on Friday, November 27th. JMP Securities lifted their price target on Moelis & Company from $37.00 to $42.00 and gave the company a market outperform rating in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. upgraded Moelis & Company from an underweight rating to a neutral rating and lifted their price target for the company from $34.00 to $50.00 in a research report on Thursday, January 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Moelis & Company has a consensus rating of Hold and a consensus target price of $40.89.
Shares of MC opened at $53.05 on Monday. The firm has a market cap of $3.39 billion, a PE ratio of 42.10 and a beta of 1.29. The stock’s fifty day moving average price is $45.30 and its two-hundred day moving average price is $36.65. Moelis & Company has a 1 year low of $22.11 and a 1 year high of $53.86.
Moelis & Company (NYSE:MC) last issued its earnings results on Saturday, October 31st. The asset manager reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.51. The firm had revenue of $207.60 million for the quarter, compared to analyst estimates of $141.57 million. Moelis & Company had a return on equity of 23.47% and a net margin of 9.91%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. On average, equities analysts forecast that Moelis & Company will post 1.51 EPS for the current year.
The firm also recently announced a None dividend, which was paid on Tuesday, December 29th. Investors of record on Friday, December 18th were given a dividend of $2.00 per share. This is a boost from Moelis & Company’s previous None dividend of $1.26. The ex-dividend date was Thursday, December 17th. Moelis & Company’s payout ratio is presently 78.06%.
In related news, CFO Joseph Simon sold 18,367 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $38.69, for a total transaction of $710,619.23. Following the completion of the transaction, the chief financial officer now directly owns 33,518 shares in the company, valued at $1,296,811.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 25,715 shares of company stock valued at $990,742. 17.99% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Westside Investment Management Inc. purchased a new position in shares of Moelis & Company during the 3rd quarter worth about $33,000. Great West Life Assurance Co. Can boosted its stake in Moelis & Company by 190.5% in the 3rd quarter. Great West Life Assurance Co. Can now owns 14,556 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 9,545 shares during the period. Nachman Norwood & Parrott Inc bought a new stake in Moelis & Company in the 3rd quarter valued at $73,000. Captrust Financial Advisors boosted its stake in Moelis & Company by 46.8% in the 2nd quarter. Captrust Financial Advisors now owns 2,935 shares of the asset manager’s stock valued at $90,000 after purchasing an additional 935 shares during the period. Finally, Bank of Montreal Can boosted its stake in Moelis & Company by 710.4% in the 2nd quarter. Bank of Montreal Can now owns 5,470 shares of the asset manager’s stock valued at $158,000 after purchasing an additional 4,795 shares during the period. Hedge funds and other institutional investors own 86.77% of the company’s stock.
About Moelis & Company
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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