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.
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%.
COPYRIGHT VIOLATION NOTICE: “Moelis & Co (MC) Upgraded by Keefe, Bruyette & Woods to Hold” was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.chaffeybreeze.com/2017/05/20/moelis-co-mc-upgraded-by-keefe-bruyette-woods-to-hold-updated.html.
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.
Receive News & Ratings for Moelis & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Co and related companies with MarketBeat.com's FREE daily email newsletter.