Moelis & Company (NYSE:MC – Free Report) had its tarobtain price hoisted by Morgan Stanley from $74.00 to $90.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the asset manager’s stock.
MC has been the subject of several other research reports. Keefe, Bruyette & Woods boosted their price objective on Moelis & Company from $69.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. The Goldman Sachs Group lifted their tarobtain price on shares of Moelis & Company from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Zacks Research upgraded shares of Moelis & Company from a “hold” rating to a “strong-acquire” rating in a report on Monday, August 18th. Finally, Wells Fargo & Company upped their price tarobtain on shares of Moelis & Company from $50.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Moelis & Company presently has a consensus rating of “Hold” and a consensus tarobtain price of $69.67.
Get Our Latest Research Report on Moelis & Company
Moelis & Company Trading Up 2.5%
MC opened at $72.44 on Monday. The stock has a 50-day relocating average price of $70.40 and a 200-day relocating average price of $62.24. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89. The stock has a market capitalization of $5.69 billion, a P/E ratio of 28.52 and a beta of 1.72.
Moelis & Company (NYSE:MC – Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The asset manager reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.21. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%.The firm had revenue of $365.38 million during the quarter, compared to analysts’ expectations of $269.57 million. During the same period in the prior year, the business earned $0.18 EPS. The company’s revenue for the quarter was up 38.1% compared to the same quarter last year. On average, equities research analysts predict that Moelis & Company will post 2.97 EPS for the current year.
Moelis & Company Announces Dividconclude
The business also recently disclosed a quarterly dividconclude, which will be paid on Thursday, September 18th. Shareholders of record on Monday, August 4th will be issued a $0.65 dividconclude. The ex-dividconclude date is Monday, August 4th. This represents a $2.60 annualized dividconclude and a yield of 3.6%. Moelis & Company’s dividconclude payout ratio is 102.36%.
Insider Buying and Selling at Moelis & Company
In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 6,340 shares of the company’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $72.64, for a total value of $460,537.60. Following the completion of the transaction, the general counsel directly owned 131 shares in the company, valued at approximately $9,515.84. This represents a 97.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exalter Commission, which can be accessed through the SEC website. Also, Director Kenneth Shropshire sold 2,615 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $72.52, for a total transaction of $189,639.80. Following the completion of the transaction, the director owned 7,109 shares of the company’s stock, valued at $515,544.68. This trade represents a 26.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Fulton Bank N.A. increased its stake in shares of Moelis & Company by 2.9% in the 2nd quarter. Fulton Bank N.A. now owns 6,581 shares of the asset manager’s stock worth $410,000 after acquiring an additional 188 shares in the last quarter. Peak Financial Advisors LLC increased its position in Moelis & Company by 2.4% during the 1st quarter. Peak Financial Advisors LLC now owns 8,567 shares of the asset manager’s stock valued at $500,000 after acquireing an additional 204 shares in the last quarter. Palisades Investment Partners LLC increased its position in Moelis & Company by 0.3% during the 1st quarter. Palisades Investment Partners LLC now owns 76,730 shares of the asset manager’s stock valued at $4,478,000 after acquireing an additional 204 shares in the last quarter. California State Teachers Retirement System increased its position in Moelis & Company by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 69,155 shares of the asset manager’s stock valued at $4,310,000 after acquireing an additional 209 shares in the last quarter. Finally, Choreo LLC increased its position in Moelis & Company by 5.1% during the 1st quarter. Choreo LLC now owns 5,075 shares of the asset manager’s stock valued at $296,000 after acquireing an additional 244 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.
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 focutilizes on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.
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