Morgan Stanley Raises Moelis & Company (NYSE:MC) Price Target to $67.00

Moelis & Company (NYSE:MC) had its price target upped by investment analysts at Morgan Stanley from $61.00 to $67.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s target price would indicate a potential downside of 4.86% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company initiated coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 target price for the company. Finally, UBS Group lifted their price target on Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.33.

Moelis & Company Trading Up 0.4 %

Shares of MC stock traded up $0.25 during trading hours on Monday, hitting $70.42. 142,713 shares of the company were exchanged, compared to its average volume of 623,648. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -369.68 and a beta of 1.33. The firm has a fifty day simple moving average of $65.13 and a 200 day simple moving average of $58.36. Moelis & Company has a 52-week low of $38.58 and a 52-week high of $71.34.

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

Insider Transactions at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 owns 9,372 shares in the company, valued at $649,385.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Joseph Simon sold 6,723 shares of the stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth Shropshire sold 495 shares of the business’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 transaction, the director now owns 9,372 shares in the company, valued at approximately $649,385.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,526 shares of company stock worth $830,133. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Moelis & Company

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Moelis & Company in the 4th quarter worth about $41,720,000. Natixis Advisors LLC boosted its position in Moelis & Company by 179.2% during the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock valued at $40,265,000 after acquiring an additional 454,478 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Moelis & Company by 11.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock worth $189,404,000 after acquiring an additional 334,620 shares during the period. Azora Capital LP bought a new position in shares of Moelis & Company in the 4th quarter worth approximately $10,601,000. Finally, Wasatch Advisors LP lifted its stake in shares of 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 during the period. Hedge funds and other institutional investors 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.