Moelis & Company (NYSE:MC) Now Covered by Wells Fargo & Company

Investment analysts at Wells Fargo & Company began coverage on shares of Moelis & Company (NYSE:MC) in a report issued on Thursday, MarketBeat reports. The brokerage set an “equal weight” rating and a $70.00 price target on the asset manager’s stock. Wells Fargo & Company‘s price target points to a potential upside of 3.93% from the stock’s previous close.

Several other research firms have also commented on MC. JPMorgan Chase & Co. raised their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Morgan Stanley lifted their price target on Moelis & Company from $51.00 to $61.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Finally, UBS Group upped their price objective on Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and an average target price of $58.33.

Moelis & Company Price Performance

MC opened at $67.35 on Thursday. The business has a fifty day simple moving average of $63.91 and a 200 day simple moving average of $57.62. Moelis & Company has a 1 year low of $38.58 and a 1 year high of $70.00. The company has a market capitalization of $5.04 billion, a PE ratio of -354.47 and a beta of 1.33.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The business had revenue of $264.59 million during the quarter, compared to analysts’ expectations of $227.90 million. During the same quarter in the previous year, the company earned ($0.04) EPS. The business’s revenue was up 47.1% on a year-over-year basis. Equities analysts anticipate that Moelis & Company will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Moelis & Company

In related news, CFO Joseph Simon sold 6,723 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Kenneth Moelis sold 5,308 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the sale, the chief executive officer now owns 86 shares in the company, valued at $5,922.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Joseph Simon sold 6,723 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $64.00, for a total value of $430,272.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,526 shares of company stock valued at $830,133. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Moelis & Company

A number of institutional investors and hedge funds have recently made changes to their positions in MC. UMB Bank n.a. grew its holdings in Moelis & Company by 63.5% during the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after buying an additional 193 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Moelis & Company by 147.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after acquiring an additional 392 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Moelis & Company by 510.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock worth $47,000 after acquiring an additional 699 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Moelis & Company by 22.5% in the fourth quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock valued at $84,000 after purchasing an additional 276 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Moelis & Company in the second quarter valued at about $113,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

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.