Moelis & Company (NYSE:MC) Receives $71.57 Consensus PT from Brokerages

Shares of Moelis & Company (NYSE:MC) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $71.5714.

MC has been the topic of a number of recent research reports. Seaport Res Ptn raised Moelis & Company from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Morgan Stanley upped their price objective on shares of Moelis & Company from $74.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, September 8th. BMO Capital Markets initiated coverage on shares of Moelis & Company in a research report on Friday, October 3rd. They set a “market perform” rating and a $74.00 target price for the company. Keefe, Bruyette & Woods reduced their target price on shares of Moelis & Company from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Finally, Zacks Research lowered shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th.

Insider Activity

In related news, Director Kenneth Shropshire sold 2,615 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $72.52, for a total transaction of $189,639.80. Following the sale, the director owned 7,109 shares of the company’s stock, valued at approximately $515,544.68. This represents a 26.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Moelis & Company

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Moelis & Company by 1.9% during the first quarter. Vanguard Group Inc. now owns 8,305,688 shares of the asset manager’s stock worth $484,720,000 after purchasing an additional 158,373 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Moelis & Company by 4.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,080,123 shares of the asset manager’s stock valued at $191,953,000 after buying an additional 137,824 shares in the last quarter. State Street Corp lifted its position in Moelis & Company by 3.2% in the 2nd quarter. State Street Corp now owns 2,862,337 shares of the asset manager’s stock worth $178,381,000 after buying an additional 89,143 shares during the last quarter. Wasatch Advisors LP boosted its stake in Moelis & Company by 4.1% in the second quarter. Wasatch Advisors LP now owns 2,845,605 shares of the asset manager’s stock worth $177,338,000 after buying an additional 112,281 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Moelis & Company by 6.0% in the second quarter. Ameriprise Financial Inc. now owns 2,396,230 shares of the asset manager’s stock worth $149,333,000 after buying an additional 135,885 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Up 0.5%

MC opened at $63.32 on Friday. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89. The company’s 50-day moving average price is $68.99 and its two-hundred day moving average price is $66.03. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 21.18 and a beta of 1.80.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. Moelis & Company had a net margin of 15.98% and a return on equity of 47.11%. The company had revenue of $356.89 million for the quarter, compared to analysts’ expectations of $336.14 million. During the same quarter in the previous year, the firm posted $0.22 EPS. Moelis & Company’s revenue was up 30.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Monday, November 10th will be given a $0.65 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.60 annualized dividend and a dividend yield of 4.1%. Moelis & Company’s payout ratio is 86.96%.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.