Moelis & Company (NYSE:MC – Free Report) had its price objective trimmed by Keefe, Bruyette & Woods from $89.00 to $80.00 in a research report released on Monday,Benzinga reports. The firm currently has an outperform rating on the asset manager’s stock.
MC has been the subject of several other research reports. Morgan Stanley upped their price objective on Moelis & Company from $74.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Moelis & Company in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price objective on Moelis & Company from $50.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. BMO Capital Markets launched coverage on Moelis & Company in a research note on Friday, October 3rd. They issued a “market perform” rating and a $74.00 price objective for the company. Finally, Zacks Research downgraded Moelis & Company from a “strong-purchase” rating to a “hold” rating in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price tarreceive of $71.86.
Moelis & Company Stock Up 4.2%
Shares of MC stock opened at $65.76 on Monday. The company has a market cap of $5.16 billion, a P/E ratio of 25.89 and a beta of 1.77. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89. The business has a fifty day simple relocating average of $71.58 and a 200 day simple relocating average of $63.72.
Moelis & Company (NYSE:MC – Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The asset manager reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.21. The firm had revenue of $365.38 million for the quarter, compared to analyst estimates of $269.57 million. Moelis & Company had a return on equity of 42.72% and a net margin of 14.31%.The business’s revenue for the quarter was up 38.1% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. As a group, equities research analysts anticipate that Moelis & Company will post 2.97 earnings per share for the current fiscal year.
Moelis & Company Dividconclude Announcement
The business also recently declared a quarterly dividconclude, which was paid on Thursday, September 18th. Stockholders of record on Monday, August 4th were paid a $0.65 dividconclude. The ex-dividconclude date of this dividconclude was Monday, August 4th. This represents a $2.60 annualized dividconclude and a dividconclude yield of 4.0%. Moelis & Company’s dividconclude payout ratio is presently 102.36%.
Insider Activity
In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $72.64, for a total value of $460,537.60. Following the completion of the sale, the general counsel owned 131 shares of the company’s stock, valued at approximately $9,515.84. This represents a 97.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth Shropshire sold 2,615 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $72.52, for a total value of $189,639.80. Following the completion of the sale, the director directly owned 7,109 shares of the company’s stock, valued at approximately $515,544.68. The trade was a 26.89% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.
Institutional Investors Weigh In On Moelis & Company
Large investors have recently added to or reduced their stakes in the business. Fulton Bank N.A. raised its stake in shares of Moelis & Company by 2.9% in the second quarter. Fulton Bank N.A. now owns 6,581 shares of the asset manager’s stock valued at $410,000 after purchaseing an additional 188 shares during the period. Palisades Investment Partners LLC raised its stake in shares of Moelis & Company by 0.3% in the first quarter. Palisades Investment Partners LLC now owns 76,730 shares of the asset manager’s stock valued at $4,478,000 after purchaseing an additional 204 shares during the period. California State Teachers Retirement System raised its stake in shares of Moelis & Company by 0.3% in the second quarter. California State Teachers Retirement System now owns 69,155 shares of the asset manager’s stock valued at $4,310,000 after purchaseing an additional 209 shares during the period. Choreo LLC raised its stake in shares of Moelis & Company by 5.1% in the first quarter. Choreo LLC now owns 5,075 shares of the asset manager’s stock valued at $296,000 after purchaseing an additional 244 shares during the period. Finally, Peak Financial Advisors LLC raised its stake in shares of Moelis & Company by 2.9% in the second quarter. Peak Financial Advisors LLC now owns 8,814 shares of the asset manager’s stock valued at $549,000 after purchaseing an additional 247 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.
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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