Moelis & Company (NYSE:MC) PT Lowered to $66.00

Moelis & Company (NYSE:MC) had its price objective decreased by Morgan Stanley from $67.00 to $66.00 in a research report sent to investors on Thursday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the asset manager’s stock.

Several other equities research analysts have also weighed in on MC. UBS Group raised their price objective on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. 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 objective on the stock. JPMorgan Chase & Co. raised their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and an average target price of $60.83.

Moelis & Company Trading Down 1.6 %

Shares of Moelis & Company stock opened at $65.89 on Thursday. Moelis & Company has a 52 week low of $39.08 and a 52 week high of $72.80. The company’s 50-day moving average price is $67.53 and its two-hundred day moving average price is $60.76. The stock has a market cap of $4.93 billion, a PE ratio of -346.79 and a beta of 1.33.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $273.76 million during the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.15) earnings per share. On average, equities analysts predict that Moelis & Company will post 0.98 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.60 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.64%. Moelis & Company’s dividend payout ratio is -1,263.16%.

Insider Transactions at Moelis & Company

In related news, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total transaction of $34,298.55. Following the transaction, the director now directly owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the sale, the chief executive officer now directly owns 86 shares of the company’s stock, valued at $5,922.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the sale, the director now owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Moelis & Company

Hedge funds have recently added to or reduced their stakes in the company. Blue Zone Wealth Advisors LLC bought a new position in Moelis & Company during the first quarter valued at about $3,213,000. UniSuper Management Pty Ltd acquired a new stake in Moelis & Company in the 1st quarter worth approximately $801,000. Lord Abbett & CO. LLC boosted its position in Moelis & Company by 5.2% during the first quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock worth $63,483,000 after purchasing an additional 55,402 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Moelis & Company by 51.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 135,399 shares of the asset manager’s stock valued at $7,699,000 after purchasing an additional 46,226 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Moelis & Company by 18.2% in the second quarter. Sei Investments Co. now owns 305,871 shares of the asset manager’s stock valued at $17,392,000 after purchasing an additional 47,176 shares during the period. Institutional investors and hedge funds 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.