Moelis & Company (NYSE:MC) Price Target Raised to $61.00 at Morgan Stanley

Moelis & Company (NYSE:MC) had its price objective raised by Morgan Stanley from $51.00 to $61.00 in a research note published on Tuesday, Benzinga reports. Morgan Stanley currently has an underweight rating on the asset manager’s stock.

MC has been the subject of several other research reports. UBS Group lifted their price objective on shares of Moelis & Company from $47.00 to $50.00 and gave the company a sell rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price target on shares of Moelis & Company from $54.00 to $50.00 and set a neutral rating for the company in a research report on Thursday, July 11th. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $54.00 price objective (down from $58.00) on shares of Moelis & Company in a report on Thursday, April 25th. Finally, JMP Securities reissued a market perform rating on shares of Moelis & Company in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $54.60.

Moelis & Company Price Performance

NYSE MC traded down $1.31 during trading hours on Tuesday, reaching $63.48. The company’s stock had a trading volume of 531,604 shares, compared to its average volume of 601,635. The firm has a fifty day simple moving average of $57.07 and a 200-day simple moving average of $55.16. The stock has a market cap of $4.75 billion, a P/E ratio of -341.00 and a beta of 1.35. Moelis & Company has a 52 week low of $38.58 and a 52 week high of $68.50.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.11. The firm had revenue of $217.49 million during the quarter, compared to analyst estimates of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. On average, research analysts expect that Moelis & Company will post 1.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Kenneth Moelis sold 40,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the completion of the transaction, the chief executive officer now directly owns 42,441 shares in the company, valued at $2,290,965.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Navid Mahmoodzadegan sold 44,980 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $54.92, for a total transaction of $2,470,301.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kenneth Moelis sold 40,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total value of $2,159,200.00. Following the transaction, the chief executive officer now owns 42,441 shares of the company’s stock, valued at $2,290,965.18. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Moelis & Company

Several institutional investors and hedge funds have recently modified their holdings of MC. Mendota Financial Group LLC purchased a new stake in shares of Moelis & Company during the fourth quarter valued at $34,000. GAMMA Investing LLC purchased a new stake in shares of Moelis & Company during the fourth quarter valued at $34,000. Hexagon Capital Partners LLC boosted its position in shares of Moelis & Company by 147.9% during the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock valued at $37,000 after buying an additional 392 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Moelis & Company by 510.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock valued at $47,000 after buying an additional 699 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Moelis & Company by 22.5% during the fourth quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock valued at $84,000 after buying an additional 276 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors.

About Moelis & Company

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.