Moelis & Company (NYSE:MC) Trading 3.8% Higher Following Analyst Upgrade

Moelis & Company (NYSE:MC) shares traded up 3.8% during trading on Thursday after Morgan Stanley raised their price target on the stock from $60.00 to $63.00. Morgan Stanley currently has an equal weight rating on the stock. Moelis & Company traded as high as $59.20 and last traded at $58.82. 2,258 shares traded hands during trading, a decline of 100% from the average session volume of 454,098 shares. The stock had previously closed at $56.69.

A number of other equities analysts have also recently weighed in on MC. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a report on Thursday, April 15th. Zacks Investment Research cut Moelis & Company from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Wednesday, June 9th. Finally, Wolfe Research raised Moelis & Company from an “underperform” rating to a “peer perform” rating and set a $63.00 price target for the company in a report on Thursday, June 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Moelis & Company currently has an average rating of “Hold” and an average target price of $51.56.

In related news, CEO Kenneth Moelis sold 18,184 shares of the company’s stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $57.11, for a total value of $1,038,488.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 30,051 shares of company stock valued at $1,715,368 over the last quarter. Insiders own 17.99% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Moelis & Company by 3.1% during the first quarter. BlackRock Inc. now owns 4,796,648 shares of the asset manager’s stock worth $263,241,000 after acquiring an additional 143,216 shares during the last quarter. Timucuan Asset Management Inc. FL boosted its position in shares of Moelis & Company by 1.6% in the first quarter. Timucuan Asset Management Inc. FL now owns 2,019,588 shares of the asset manager’s stock worth $110,835,000 after buying an additional 31,899 shares during the period. Federated Hermes Inc. boosted its position in shares of Moelis & Company by 22.2% in the first quarter. Federated Hermes Inc. now owns 1,667,483 shares of the asset manager’s stock worth $91,511,000 after buying an additional 302,483 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Moelis & Company by 123.2% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,358,227 shares of the asset manager’s stock worth $74,539,000 after buying an additional 749,830 shares during the period. Finally, Westwood Holdings Group Inc. boosted its position in shares of Moelis & Company by 6.7% in the first quarter. Westwood Holdings Group Inc. now owns 1,163,449 shares of the asset manager’s stock worth $63,850,000 after buying an additional 73,000 shares during the period. Institutional investors own 88.98% of the company’s stock.

The firm has a 50-day moving average price of $54.37. The company has a market capitalization of $3.79 billion, a P/E ratio of 16.62 and a beta of 1.21.

Moelis & Company (NYSE:MC) last issued its earnings results on Tuesday, July 20th. The asset manager reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.36. Moelis & Company had a return on equity of 56.19% and a net margin of 20.91%. The company had revenue of $360.91 million during the quarter, compared to the consensus estimate of $274.36 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s revenue was up 125.7% compared to the same quarter last year. Analysts anticipate that Moelis & Company will post 3.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 18th. Stockholders of record on Monday, May 10th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Friday, May 7th. Moelis & Company’s payout ratio is 75.60%.

About Moelis & Company (NYSE:MC)

Moelis & Company operates as an investment banking advisory firm in the United States, Europe, and internationally. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, and governments.

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