Zacks Investment Research Lowers Moelis & Company (MC) to Sell

Zacks Investment Research downgraded shares of Moelis & Company (NYSE:MC) from a hold rating to a sell rating in a research report released on Thursday morning.

According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “

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A number of other equities research analysts have also recently weighed in on MC. ValuEngine upgraded shares of Moelis & Company from a hold rating to a buy rating in a report on Friday, February 2nd. Morgan Stanley upped their price objective on shares of Moelis & Company from $49.00 to $60.00 and gave the stock an overweight rating in a report on Friday, February 9th. Finally, Bank of America upped their price objective on shares of Moelis & Company from $53.00 to $55.00 and gave the stock a buy rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Moelis & Company currently has an average rating of Buy and an average target price of $50.67.

Shares of MC opened at $52.00 on Thursday. The stock has a market capitalization of $2,909.27, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 1.32 and a beta of 1.71. Moelis & Company has a fifty-two week low of $34.60 and a fifty-two week high of $54.60.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.10. The business had revenue of $169.17 million for the quarter, compared to analysts’ expectations of $160.22 million. Moelis & Company had a net margin of 4.29% and a return on equity of 47.12%. The business’s revenue was down 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. equities analysts expect that Moelis & Company will post 2.73 EPS for the current year.

In other news, insider Navid Mahmoodzadegan sold 33,468 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $51.42, for a total transaction of $1,720,924.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Osamu R. Watanabe sold 5,185 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $50.00, for a total transaction of $259,250.00. Following the sale, the general counsel now owns 10,499 shares in the company, valued at approximately $524,950. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,393 shares of company stock worth $6,999,369. Corporate insiders own 52.64% of the company’s stock.

Large investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Moelis & Company by 7.5% during the fourth quarter. BlackRock Inc. now owns 3,535,231 shares of the asset manager’s stock valued at $171,458,000 after buying an additional 247,956 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Moelis & Company by 6.7% during the third quarter. Dimensional Fund Advisors LP now owns 525,281 shares of the asset manager’s stock valued at $22,614,000 after buying an additional 33,068 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Moelis & Company during the fourth quarter valued at approximately $206,000. Vident Investment Advisory LLC grew its holdings in shares of Moelis & Company by 6.5% during the fourth quarter. Vident Investment Advisory LLC now owns 55,184 shares of the asset manager’s stock valued at $2,676,000 after buying an additional 3,366 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Moelis & Company by 127.7% during the third quarter. Cubist Systematic Strategies LLC now owns 11,878 shares of the asset manager’s stock valued at $511,000 after buying an additional 6,662 shares during the last quarter. Hedge funds and other institutional investors own 54.82% of the company’s stock.

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Moelis & Company Company Profile

Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.

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Analyst Recommendations for Moelis & Company (NYSE:MC)

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