Moelis & Company (NYSE:MC) Given New $66.00 Price Target at Morgan Stanley

Moelis & Company (NYSE:MC) had its price objective reduced by equities researchers at Morgan Stanley from $67.00 to $66.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s price target indicates a potential downside of 1.36% from the company’s previous close.

A number of other equities research analysts also recently commented on MC. JPMorgan Chase & Co. lifted their target price on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price target (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Wells Fargo & Company initiated coverage on Moelis & Company in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Finally, UBS Group increased their target price on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, Moelis & Company currently has an average rating of “Hold” and an average target price of $60.83.

Moelis & Company Stock Down 1.9 %

Shares of MC traded down $1.33 during midday trading on Thursday, reaching $66.91. The company had a trading volume of 247,716 shares, compared to its average volume of 623,174. Moelis & Company has a 1-year low of $38.58 and a 1-year high of $72.80. The firm has a 50 day simple moving average of $67.45 and a 200-day simple moving average of $60.58. The stock has a market cap of $5.00 billion, a PE ratio of -351.74 and a beta of 1.33.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The company had revenue of $264.59 million for the quarter, compared to the consensus estimate of $227.90 million. During the same period in the previous year, the firm earned ($0.04) earnings per share. Moelis & Company’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Moelis & Company will post 1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Moelis & Company news, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the transaction, the chief executive officer now owns 86 shares of the company’s stock, valued at approximately $5,922.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Kenneth Shropshire sold 495 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the transaction, the chief executive officer now directly owns 86 shares in the company, valued at approximately $5,922.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is owned by company insiders.

Institutional Trading of Moelis & Company

A number of hedge funds have recently added to or reduced their stakes in MC. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Moelis & Company during the first quarter worth $5,062,000. Blue Zone Wealth Advisors LLC acquired a new position in shares of Moelis & Company during the first quarter worth about $3,213,000. O ROURKE & COMPANY Inc raised its holdings in Moelis & Company by 9.5% during the first quarter. O ROURKE & COMPANY Inc now owns 6,181 shares of the asset manager’s stock worth $351,000 after purchasing an additional 537 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Moelis & Company by 147.9% in the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 392 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in Moelis & Company by 4.9% in the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock valued at $194,020,000 after purchasing an additional 159,797 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

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.