Wells Fargo & Company Has Lowered Expectations for Moelis & Company (NYSE:MC) Stock Price

Moelis & Company (NYSE:MCGet Free Report) had its target price lowered by Wells Fargo & Company from $78.00 to $77.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 2.42% from the company’s current price.

A number of other research firms have also recently weighed in on MC. Keefe, Bruyette & Woods upgraded shares of Moelis & Company from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $71.00 to $86.00 in a research note on Friday, December 20th. UBS Group boosted their price objective on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upgraded Moelis & Company from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $66.00 to $92.00 in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Moelis & Company presently has a consensus rating of “Hold” and a consensus target price of $70.67.

View Our Latest Analysis on MC

Moelis & Company Stock Performance

NYSE:MC opened at $75.18 on Tuesday. The stock has a 50-day simple moving average of $74.80 and a two-hundred day simple moving average of $68.87. Moelis & Company has a 52-week low of $46.24 and a 52-week high of $81.60. The firm has a market capitalization of $5.63 billion, a PE ratio of 141.85 and a beta of 1.39.

Moelis & Company (NYSE:MCGet Free Report) last released its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The company had revenue of $273.76 million during the quarter, compared to analyst estimates of $273.58 million. During the same period in the prior year, the firm posted ($0.15) EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts forecast that Moelis & Company will post 0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Moelis & Company

Several institutional investors have recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in shares of Moelis & Company during the 3rd quarter valued at approximately $26,000. GAMMA Investing LLC raised its stake in Moelis & Company by 115.8% during the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after purchasing an additional 534 shares in the last quarter. Blue Trust Inc. lifted its position in Moelis & Company by 193.0% during the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after purchasing an additional 712 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Moelis & Company in the 3rd quarter worth $75,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Moelis & Company by 75.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the asset manager’s stock worth $83,000 after buying an additional 629 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Moelis & Company (NYSE:MC)

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