Moelis & Company (NYSE:MC) Price Target Raised to $47.00

Moelis & Company (NYSE:MC) had its target price raised by stock analysts at UBS Group from $45.00 to $47.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “sell” rating on the asset manager’s stock. UBS Group’s price target indicates a potential downside of 5.53% from the stock’s current price.

Several other research firms have also weighed in on MC. StockNews.com upgraded shares of Moelis & Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $58.00 in a report on Wednesday, March 13th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 target price (down from $58.00) on shares of Moelis & Company in a research report on Thursday. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.80.

Moelis & Company Price Performance

MC opened at $49.75 on Thursday. Moelis & Company has a fifty-two week low of $33.87 and a fifty-two week high of $58.67. The company’s 50-day moving average is $54.07 and its 200 day moving average is $51.54.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. The company had revenue of $217.49 million during the quarter, compared to analyst estimates of $219.30 million. Moelis & Company had a negative return on equity of 0.13% and a negative net margin of 1.33%. Moelis & Company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. On average, equities research analysts anticipate that Moelis & Company will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Christopher Callesano sold 1,040 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total value of $55,733.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Kenneth Moelis sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $54.11, for a total value of $4,058,250.00. Following the sale, the chief executive officer now directly owns 86,441 shares of the company’s stock, valued at $4,677,322.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Callesano sold 1,040 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total value of $55,733.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 375,185 shares of company stock valued at $20,130,225. Corporate insiders own 6.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MC. O ROURKE & COMPANY Inc raised its holdings in shares of Moelis & Company by 4.1% during the fourth quarter. O ROURKE & COMPANY Inc now owns 5,644 shares of the asset manager’s stock valued at $317,000 after acquiring an additional 221 shares in the last quarter. Peak Financial Advisors LLC boosted its stake in shares of Moelis & Company by 2.9% during the 1st quarter. Peak Financial Advisors LLC now owns 8,715 shares of the asset manager’s stock valued at $495,000 after purchasing an additional 245 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in shares of Moelis & Company by 4.4% during the third quarter. Capital Investment Advisory Services LLC now owns 6,023 shares of the asset manager’s stock valued at $272,000 after buying an additional 256 shares during the period. Mutual of America Capital Management LLC raised its stake in Moelis & Company by 0.4% in the third quarter. Mutual of America Capital Management LLC now owns 76,155 shares of the asset manager’s stock worth $3,437,000 after buying an additional 268 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Moelis & Company by 22.5% in the fourth quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock worth $84,000 after buying an additional 276 shares during the period. Institutional investors own 91.53% of the company’s stock.

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.