Moelis & Co (NYSE:MC) had its price objective lowered by Morgan Stanley from $31.00 to $29.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would indicate a potential downside of 2.65% from the stock’s current price.

A number of other research firms have also commented on MC. UBS Group downgraded shares of Moelis & Co from a “neutral” rating to a “sell” rating and set a $22.00 target price on the stock. in a report on Tuesday, April 14th. JPMorgan Chase & Co. downgraded shares of Moelis & Co from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $20.00 to $26.00 in a report on Tuesday, July 7th. Wolfe Research initiated coverage on shares of Moelis & Co in a report on Wednesday, July 22nd. They issued an “underperform” rating and a $19.00 target price on the stock. Goldman Sachs Group downgraded shares of Moelis & Co from a “buy” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $27.00 in a report on Monday, July 13th. Finally, Piper Sandler downgraded shares of Moelis & Co from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $40.00 to $32.00 in a report on Friday, July 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $30.80.

NYSE MC traded down $0.05 during trading on Thursday, reaching $29.79. The company’s stock had a trading volume of 522,626 shares, compared to its average volume of 576,449. The company has a debt-to-equity ratio of 0.55, a quick ratio of 5.21 and a current ratio of 5.21. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 20.54 and a beta of 1.53. Moelis & Co has a twelve month low of $22.11 and a twelve month high of $41.27. The business’s fifty day moving average price is $31.74 and its 200-day moving average price is $31.86.

Moelis & Co (NYSE:MC) last posted its quarterly earnings data on Wednesday, July 29th. The asset manager reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. The company had revenue of $159.90 million for the quarter, compared to analyst estimates of $146.57 million. Moelis & Co had a net margin of 10.60% and a return on equity of 27.53%. Moelis & Co’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, sell-side analysts forecast that Moelis & Co will post 0.35 EPS for the current fiscal year.

In other Moelis & Co news, insider Jeffrey Raich sold 20,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $31.03, for a total value of $620,600.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Navid Mahmoodzadegan sold 72,632 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $33.47, for a total transaction of $2,430,993.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,278 shares of company stock worth $3,431,265. 17.99% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MC. APG Asset Management N.V. purchased a new stake in shares of Moelis & Co in the first quarter valued at about $39,311,000. London Co. of Virginia lifted its holdings in shares of Moelis & Co by 40.9% in the first quarter. London Co. of Virginia now owns 3,309,141 shares of the asset manager’s stock valued at $92,987,000 after purchasing an additional 961,128 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Moelis & Co in the first quarter valued at about $25,009,000. Norges Bank acquired a new position in shares of Moelis & Co in the fourth quarter valued at approximately $18,105,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Moelis & Co in the first quarter valued at approximately $8,379,000. 81.95% of the stock is currently owned by institutional investors.

Moelis & Co 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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