Moelis & Company (NYSE:MC) Price Target Raised to $60.00

Moelis & Company (NYSE:MC) had its price target increased by UBS Group from $54.00 to $60.00 in a report published on Tuesday, Benzinga reports. UBS Group currently has a sell rating on the asset manager’s stock.

Several other equities analysts have also issued reports on MC. Keefe, Bruyette & Woods reiterated a market perform rating and set a $60.00 target price (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Wells Fargo & Company began coverage on Moelis & Company in a report on Thursday, September 12th. They set an equal weight rating and a $70.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a neutral rating in a research note on Thursday, July 25th. Finally, Morgan Stanley upped their target price on shares of Moelis & Company from $61.00 to $67.00 and gave the stock an underweight rating in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $61.00.

Moelis & Company Price Performance

Shares of NYSE MC opened at $66.73 on Tuesday. Moelis & Company has a 1 year low of $38.58 and a 1 year high of $71.34. The company’s 50-day moving average is $65.75 and its 200 day moving average is $59.66. The stock has a market capitalization of $4.99 billion, a P/E ratio of 444.87 and a beta of 1.33.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. The company had revenue of $264.59 million for the quarter, compared to analyst estimates of $227.90 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The firm’s revenue was up 47.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) earnings per share. Research analysts anticipate that Moelis & Company will post 1.08 earnings per share for the current year.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, August 5th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Monday, August 5th. Moelis & Company’s payout ratio is currently 1,600.00%.

Insider Buying and Selling at Moelis & Company

In other news, Director Kenneth Shropshire sold 495 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the transaction, the director now owns 9,372 shares in the company, valued at $649,385.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Kenneth Shropshire sold 495 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the sale, the director now directly owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joseph Simon sold 6,723 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $64.00, for a total transaction of $430,272.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,526 shares of company stock valued at $830,133. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Moelis & Company

Large investors have recently made changes to their positions in the business. UMB Bank n.a. lifted its position in shares of Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after buying an additional 193 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Moelis & Company by 147.9% during the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 392 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Moelis & Company by 510.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock worth $47,000 after buying an additional 699 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Moelis & Company by 115.8% in the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock worth $68,000 after buying an additional 534 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Moelis & Company during the 2nd quarter valued at about $113,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.