Moelis & Company (NYSE:MC) Downgraded by UBS Group

Moelis & Company (NYSE:MCGet Rating) was downgraded by equities researchers at UBS Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Friday, The Fly reports.

A number of other research analysts have also issued reports on the stock. Wolfe Research lowered shares of Moelis & Company from a “peer perform” rating to an “underperform” rating and set a $42.00 price target on the stock. in a research note on Monday, July 11th. Piper Sandler lowered their target price on shares of Moelis & Company from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, July 8th. Finally, Morgan Stanley lowered shares of Moelis & Company from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $53.00 to $36.00 in a research report on Monday, July 18th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.67.

Moelis & Company Price Performance

Shares of MC opened at $37.04 on Friday. Moelis & Company has a 1-year low of $36.69 and a 1-year high of $77.49. The stock has a market cap of $2.55 billion, a PE ratio of 7.93 and a beta of 1.29. The firm has a fifty day moving average price of $43.13 and a 200 day moving average price of $43.56.

Moelis & Company (NYSE:MCGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The asset manager reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.16. Moelis & Company had a net margin of 22.19% and a return on equity of 76.91%. The firm had revenue of $242.52 million during the quarter, compared to analysts’ expectations of $199.79 million. During the same period in the previous year, the company earned $1.19 earnings per share. Moelis & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. As a group, equities analysts expect that Moelis & Company will post 2.75 EPS for the current fiscal year.

Institutional Trading of Moelis & Company

Large investors have recently modified their holdings of the business. First Horizon Advisors Inc. purchased a new position in shares of Moelis & Company during the second quarter valued at approximately $40,000. HM Payson & Co. purchased a new position in shares of Moelis & Company during the first quarter valued at approximately $44,000. Covestor Ltd lifted its stake in shares of Moelis & Company by 230.3% during the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock valued at $72,000 after buying an additional 1,073 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Moelis & Company during the second quarter valued at approximately $91,000. Finally, City State Bank purchased a new position in shares of Moelis & Company during the fourth quarter valued at approximately $141,000. 90.87% of the stock is currently owned by institutional investors and hedge funds.

About Moelis & Company

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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. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.

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Analyst Recommendations for Moelis & Company (NYSE:MC)

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