Moelis & Company (MC) Given Average Rating of “Buy” by Brokerages
Moelis & Company (NYSE:MC) has earned a consensus rating of “Buy” from the eleven brokerages that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $41.50.
Several equities research analysts have recently weighed in on MC shares. Bank of America Corporation raised their price objective on Moelis & from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. BidaskClub lowered Moelis & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised Moelis & from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, October 31st. JMP Securities raised their price objective on Moelis & from $44.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 26th. Finally, UBS AG raised their price objective on Moelis & from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th.
In other news, Chairman Kenneth Moelis sold 30,656 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $42.67, for a total value of $1,308,091.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 80,956 shares of company stock valued at $3,451,515 in the last 90 days. Corporate insiders own 52.64% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings 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 valued at $5,252,000 after purchasing an additional 81,877 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Moelis & by 76.7% during the second quarter. Principal Financial Group Inc. now owns 492,290 shares of the asset manager’s stock worth $19,125,000 after acquiring an additional 213,740 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Moelis & during the second quarter worth $875,000. Wells Fargo & Company MN raised its holdings in shares of Moelis & by 34.2% during the second quarter. Wells Fargo & Company MN now owns 78,204 shares of the asset manager’s stock worth $3,038,000 after acquiring an additional 19,934 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Moelis & by 17.4% during the first quarter. Morgan Stanley now owns 319,532 shares of the asset manager’s stock worth $12,302,000 after acquiring an additional 47,402 shares in the last quarter. Institutional investors own 90.80% of the company’s stock.
Shares of Moelis & (MC) opened at $44.15 on Thursday. The firm has a market capitalization of $2,363.50, a price-to-earnings ratio of 18.25, a PEG ratio of 1.85 and a beta of 1.87. Moelis & has a one year low of $28.20 and a one year high of $45.50.
Moelis & (NYSE:MC) last released its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.15. The business had revenue of $170.00 million during the quarter, compared to analyst estimates of $168.51 million. Moelis & had a return on equity of 52.76% and a net margin of 9.62%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. sell-side analysts anticipate that Moelis & will post 2.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 6th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.35%. Moelis &’s payout ratio is currently 70.81%.
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Moelis & 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.
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