Moelis & Co (NYSE:MC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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 also recently issued reports about the company. Buckingham Research boosted their target price on Moelis & Co from $60.00 to $69.00 and gave the company a “buy” rating in a report on Monday, June 4th. Morgan Stanley downgraded Moelis & Co from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a report on Thursday, June 21st. They noted that the move was a valuation call. Finally, JMP Securities boosted their target price on Moelis & Co from $55.00 to $57.00 and gave the company a “market outperform” rating in a report on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $59.17.
Moelis & Co opened at $60.30 on Wednesday, MarketBeat.com reports. Moelis & Co has a fifty-two week low of $37.75 and a fifty-two week high of $67.65. The stock has a market capitalization of $3.38 billion, a PE ratio of 26.33, a PEG ratio of 2.17 and a beta of 1.73.
Moelis & Co (NYSE:MC) last posted its earnings results on Monday, April 23rd. The asset manager reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Moelis & Co had a return on equity of 50.44% and a net margin of 6.49%. The business had revenue of $219.40 million during the quarter, compared to the consensus estimate of $200.24 million. During the same period in the previous year, the business earned $0.54 EPS. The business’s quarterly revenue was up 26.6% on a year-over-year basis. analysts anticipate that Moelis & Co will post 2.72 earnings per share for the current fiscal year.
In related news, COO Elizabeth Crain sold 4,535 shares of the business’s stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $54.45, for a total value of $246,930.75. Following the transaction, the chief operating officer now owns 9,070 shares in the company, valued at approximately $493,861.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Osamu R. Watanabe sold 2,312 shares of the business’s stock in a transaction dated Tuesday, April 24th. The shares were sold at an average price of $54.45, for a total value of $125,888.40. Following the completion of the transaction, the general counsel now owns 9,937 shares in the company, valued at approximately $541,069.65. The disclosure for this sale can be found here. Insiders sold a total of 199,704 shares of company stock worth $10,868,750 in the last 90 days. 29.91% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Allianz Asset Management GmbH increased its position in Moelis & Co by 11.3% in the 1st quarter. Allianz Asset Management GmbH now owns 37,092 shares of the asset manager’s stock valued at $1,886,000 after acquiring an additional 3,752 shares during the period. Navellier & Associates Inc increased its position in Moelis & Co by 9.0% in the 1st quarter. Navellier & Associates Inc now owns 46,802 shares of the asset manager’s stock valued at $2,380,000 after acquiring an additional 3,870 shares during the period. WINTON GROUP Ltd acquired a new position in Moelis & Co in the 1st quarter valued at about $994,000. Xact Kapitalforvaltning AB acquired a new position in Moelis & Co in the 1st quarter valued at about $242,000. Finally, Royal Bank of Canada increased its position in Moelis & Co by 4.2% in the 1st quarter. Royal Bank of Canada now owns 123,614 shares of the asset manager’s stock valued at $6,285,000 after acquiring an additional 4,944 shares during the period. Hedge funds and other institutional investors own 66.57% of the company’s stock.
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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