Moelis & Company (NYSE:MC) Given Consensus Rating of “Reduce” by Brokerages

Moelis & Company (NYSE:MC) has earned an average recommendation of “Reduce” from the six ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $50.80.

MC has been the topic of several recent analyst reports. UBS Group lifted their price objective on shares of Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 price objective (down from $58.00) on shares of Moelis & Company in a research report on Thursday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and raised their target price for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th.

Insider Buying and Selling

In other Moelis & Company news, insider Navid Mahmoodzadegan sold 44,980 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $54.92, for a total value of $2,470,301.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Kenneth Moelis sold 40,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.98, for a total value of $2,159,200.00. Following the completion of the transaction, the chief executive officer now owns 42,441 shares of the company’s stock, valued at $2,290,965.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $54.92, for a total transaction of $2,470,301.60. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. UBS Group AG grew its position in Moelis & Company by 5.8% during the 3rd quarter. UBS Group AG now owns 121,898 shares of the asset manager’s stock worth $5,501,000 after acquiring an additional 6,687 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Moelis & Company during the 3rd quarter worth approximately $212,000. Envestnet Asset Management Inc. increased its stake in Moelis & Company by 30.1% in the third quarter. Envestnet Asset Management Inc. now owns 161,695 shares of the asset manager’s stock valued at $7,297,000 after purchasing an additional 37,372 shares in the last quarter. FMR LLC increased its position in Moelis & Company by 0.9% in the 3rd quarter. FMR LLC now owns 121,809 shares of the asset manager’s stock valued at $5,497,000 after buying an additional 1,029 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Moelis & Company during the third quarter worth approximately $4,712,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Stock Up 0.9 %

Shares of MC stock opened at $53.31 on Thursday. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of -280.58 and a beta of 1.35. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $58.67. The stock has a 50-day moving average price of $53.94 and a 200 day moving average price of $54.56.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. Moelis & Company had a negative return on equity of 0.12% and a negative net margin of 1.33%. The company had revenue of $217.49 million for the quarter, compared to the consensus estimate of $219.30 million. During the same quarter in the prior year, the business posted $0.05 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Sell-side analysts predict that Moelis & Company will post 1.29 earnings per share for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Monday, May 6th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend was Friday, May 3rd. Moelis & Company’s payout ratio is currently -1,263.16%.

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.