Moelis & Company (NYSE:MC) had its price objective lifted by JMP Securities from $42.00 to $44.00 in a research note released on Tuesday, July 25th. JMP Securities currently has a market outperform rating on the asset manager’s stock.
MC has been the topic of a number of other reports. Zacks Investment Research lowered Moelis & from a hold rating to a sell rating in a report on Wednesday, April 12th. Keefe, Bruyette & Woods initiated coverage on Moelis & in a report on Friday, May 5th. They set a mkt perform rating on the stock. ValuEngine raised Moelis & from a hold rating to a buy rating in a report on Thursday, June 1st. BidaskClub raised Moelis & from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Finally, Bank of America Corporation lifted their target price on Moelis & from $43.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $39.22.
Shares of Moelis & (NYSE MC) traded down 1.28% on Tuesday, hitting $38.55. 465,145 shares of the company were exchanged. The firm has a market cap of $1.06 billion, a P/E ratio of 17.83 and a beta of 1.87. The company has a 50-day moving average price of $39.72 and a 200 day moving average price of $37.69. Moelis & has a 52-week low of $23.60 and a 52-week high of $44.85.
Moelis & (NYSE:MC) last issued its quarterly earnings results on Monday, July 24th. The asset manager reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.15. The company had revenue of $172.10 million for the quarter, compared to analyst estimates of $156.85 million. Moelis & had a return on equity of 52.98% and a net margin of 8.50%. The company’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. Analysts predict that Moelis & will post $2.25 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $1.48 dividend on an annualized basis and a yield of 3.84%. Moelis &’s dividend payout ratio is currently 74.00%.
In related news, Chairman Kenneth Moelis sold 15,000 shares of Moelis & stock in a transaction dated 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 legal filing with the SEC, which is available at this link. Company insiders own 64.47% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of Moelis & by 2.0% in the fourth quarter. Renaissance Technologies LLC now owns 224,000 shares of the asset manager’s stock worth $7,594,000 after buying an additional 4,447 shares in the last quarter. State Street Corp boosted its position in shares of Moelis & by 7.5% in the fourth quarter. State Street Corp now owns 325,602 shares of the asset manager’s stock worth $11,038,000 after buying an additional 22,706 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Moelis & by 46.1% in the first quarter. Ameriprise Financial Inc. now owns 809,874 shares of the asset manager’s stock worth $31,182,000 after buying an additional 255,669 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Moelis & during the first quarter worth $39,733,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Moelis & by 150.1% in the first quarter. Goldman Sachs Group Inc. now owns 136,424 shares of the asset manager’s stock worth $5,252,000 after buying an additional 81,877 shares in the last quarter. 90.89% of the stock is currently owned by hedge funds and other institutional investors.
About Moelis &
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.
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