Equities researchers at Goldman Sachs Group initiated coverage on shares of Moelis & Co (NYSE:MC) in a report issued on Tuesday, The Fly reports. The firm set a “buy” rating and a $53.00 price target on the asset manager’s stock. Goldman Sachs Group’s price objective indicates a potential upside of 28.52% from the stock’s current price.
Several other research analysts have also recently weighed in on MC. Zacks Investment Research raised Moelis & Co from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Bank of America upped their target price on Moelis & Co from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 16th. ValuEngine lowered Moelis & Co from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Finally, UBS Group dropped their target price on Moelis & Co from $59.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Moelis & Co presently has an average rating of “Hold” and an average price target of $60.14.
MC stock opened at $41.24 on Tuesday. The stock has a market cap of $2.35 billion, a PE ratio of 18.01, a PEG ratio of 1.07 and a beta of 1.92. Moelis & Co has a fifty-two week low of $39.23 and a fifty-two week high of $67.65.
Moelis & Co (NYSE:MC) last posted its quarterly earnings data on Monday, October 22nd. The asset manager reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The firm had revenue of $207.70 million for the quarter, compared to analyst estimates of $215.19 million. Moelis & Co had a return on equity of 53.14% and a net margin of 9.39%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. Research analysts anticipate that Moelis & Co will post 2.83 EPS for the current fiscal year.
In related news, Director Kenneth Shropshire sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $57.85, for a total transaction of $86,775.00. Following the sale, the director now owns 4,968 shares in the company, valued at $287,398.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 29.91% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MC. BlackRock Inc. raised its stake in Moelis & Co by 46.3% in the second quarter. BlackRock Inc. now owns 5,351,438 shares of the asset manager’s stock valued at $313,861,000 after buying an additional 1,694,763 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Moelis & Co by 4,197.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 822,823 shares of the asset manager’s stock valued at $48,257,000 after buying an additional 803,678 shares during the period. Jennison Associates LLC raised its stake in Moelis & Co by 14.8% in the second quarter. Jennison Associates LLC now owns 1,362,542 shares of the asset manager’s stock valued at $79,913,000 after buying an additional 175,631 shares during the period. Northern Trust Corp raised its stake in Moelis & Co by 25.5% in the second quarter. Northern Trust Corp now owns 494,890 shares of the asset manager’s stock valued at $29,025,000 after buying an additional 100,539 shares during the period. Finally, Brown Advisory Inc. bought a new stake in Moelis & Co in the second quarter valued at approximately $2,880,000. Institutional investors and hedge funds own 68.97% of the company’s stock.
Moelis & Co Company Profile
Moelis & Company is a global investment bank. The firm provides services relating to mergers & acquisitions, recapitalization & restructuring, capital markets and financial institution advisory; private funds; shareholder defense and strategic alliances. The firm's expertise is into global energy; IPO advisory; technology, media, telecommunication sectors.
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