Moelis & Co (MC) Stock Rating Upgraded by Zacks Investment Research

Moelis & Co (NYSE:MC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $58.00 target price on the asset manager’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.11% from the stock’s previous close.

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. “

Other analysts have also recently issued reports about the stock. Morgan Stanley upped their price target on shares of Moelis & Co from $49.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America upped their price target on shares of Moelis & Co from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. ValuEngine upgraded shares of Moelis & Co from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. UBS Group increased their target price on shares of Moelis & Co from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Finally, JMP Securities increased their target price on shares of Moelis & Co from $44.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $50.67.

Shares of Moelis & Co (NYSE:MC) opened at $52.20 on Tuesday. The company has a market cap of $2,773.85, a P/E ratio of 66.08, a P/E/G ratio of 1.30 and a beta of 1.85. Moelis & Co has a 52 week low of $34.60 and a 52 week high of $52.95.

Moelis & Co (NYSE:MC) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.10. The company had revenue of $169.17 million for the quarter, compared to analysts’ expectations of $160.22 million. Moelis & Co had a net margin of 4.29% and a return on equity of 48.98%. Moelis & Co’s revenue was down 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. analysts forecast that Moelis & Co will post 2.75 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp lifted its stake in Moelis & Co by 1.3% in the 2nd quarter. Stifel Financial Corp now owns 36,542 shares of the asset manager’s stock worth $1,422,000 after purchasing an additional 478 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Moelis & Co by 1.9% in the 2nd quarter. Alliancebernstein L.P. now owns 41,300 shares of the asset manager’s stock worth $1,605,000 after purchasing an additional 780 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Moelis & Co by 6.5% in the 4th quarter. Victory Capital Management Inc. now owns 18,252 shares of the asset manager’s stock worth $885,000 after purchasing an additional 1,106 shares in the last quarter. Legal & General Group Plc lifted its stake in Moelis & Co by 19.2% in the 3rd quarter. Legal & General Group Plc now owns 7,662 shares of the asset manager’s stock worth $330,000 after purchasing an additional 1,235 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Moelis & Co by 69.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,523 shares of the asset manager’s stock worth $152,000 after purchasing an additional 1,442 shares in the last quarter. Institutional investors and hedge funds own 56.12% of the company’s stock.

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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.

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