Moelis & Co (MC) Upgraded by Keefe, Bruyette & Woods to Hold

Moelis & Co (NYSE:MC) was upgraded by investment analysts at Keefe, Bruyette & Woods to a “hold” rating in a research report issued to clients and investors on Thursday, May 4th. The brokerage currently has a $39.00 price target on the asset manager’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 8.79% from the stock’s previous close.

Separately, Zacks Investment Research lowered Moelis & Co from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a report on Wednesday, March 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $34.83.

Analyst Recommendations for Moelis & Co (NYSE:MC)

Shares of Moelis & Co (NYSE:MC) traded up 1.41% during midday trading on Thursday, hitting $35.85. 196,495 shares of the company were exchanged. Moelis & Co has a one year low of $21.91 and a one year high of $39.90. The firm has a market cap of $957.12 million, a P/E ratio of 20.43 and a beta of 1.90. The company’s 50 day moving average price is $37.19 and its 200 day moving average price is $34.46.

Moelis & Co (NYSE:MC) last issued its earnings results on Tuesday, April 25th. The asset manager reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Moelis & Co had a return on equity of 45.11% and a net margin of 6.26%. The business had revenue of $173.30 million during the quarter, compared to analyst estimates of $148.75 million. During the same period in the previous year, the company posted $0.35 EPS. The firm’s revenue was up 37.1% compared to the same quarter last year. Equities analysts expect that Moelis & Co will post $2.03 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Wednesday, May 10th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, May 8th. This represents a $1.48 annualized dividend and a dividend yield of 4.13%. Moelis & Co’s dividend payout ratio is currently 81.53%.

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In related news, Chairman Kenneth Moelis sold 15,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $37.46, for a total value of $561,900.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Christopher Callesano sold 4,915 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $38.48, for a total value of $189,129.20. Following the completion of the sale, the senior vice president now owns 2,194 shares in the company, valued at approximately $84,425.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,679 shares of company stock worth $4,404,687. Company insiders own 64.47% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deprince Race & Zollo Inc. purchased a new position in Moelis & Co during the first quarter worth approximately $39,733,000. Russell Investments Group Ltd. boosted its position in Moelis & Co by 2,701.1% in the first quarter. Russell Investments Group Ltd. now owns 566,075 shares of the asset manager’s stock worth $21,794,000 after buying an additional 545,866 shares in the last quarter. Vanguard Group Inc. boosted its position in Moelis & Co by 31.1% in the first quarter. Vanguard Group Inc. now owns 1,920,061 shares of the asset manager’s stock worth $73,923,000 after buying an additional 455,098 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Moelis & Co by 1,398.3% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 460,565 shares of the asset manager’s stock worth $17,732,000 after buying an additional 429,825 shares during the period. Finally, Emerald Advisers Inc. PA boosted its position in shares of Moelis & Co by 368.7% in the first quarter. Emerald Advisers Inc. PA now owns 467,911 shares of the asset manager’s stock worth $18,015,000 after buying an additional 368,080 shares during the period. 68.96% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Co Company Profile

Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.

12 Month Chart for NYSE:MC

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