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

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

Several other brokerages have also weighed in on MC. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, UBS Group lifted their target price on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.83.

Moelis & Company Stock Performance

Shares of NYSE MC opened at $65.89 on Thursday. The firm has a market cap of $4.93 billion, a P/E ratio of 439.27 and a beta of 1.33. Moelis & Company has a 1 year low of $39.08 and a 1 year high of $72.80. The firm’s 50 day moving average price is $67.53 and its 200 day moving average price is $60.71.

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

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.64%. The ex-dividend date is Monday, November 4th. Moelis & Company’s dividend payout ratio (DPR) is presently 1,600.00%.

Insider Transactions at Moelis & Company

In related news, Director Kenneth Shropshire sold 495 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total transaction of $34,298.55. Following the sale, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Kenneth Shropshire sold 495 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. 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 accessible through this link. Also, CEO Kenneth Moelis sold 5,308 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 86 shares in the company, valued at $5,922.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Moelis & Company

A number of hedge funds have recently bought and sold shares of the business. Blue Zone Wealth Advisors LLC purchased a new position in shares of Moelis & Company during the 1st quarter valued at approximately $3,213,000. UniSuper Management Pty Ltd acquired a new position in Moelis & Company during the 1st quarter worth $801,000. Lord Abbett & CO. LLC increased its position in shares of Moelis & Company by 5.2% in the 1st 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 last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Moelis & Company by 51.8% in the 2nd 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 in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Moelis & Company by 18.2% during the second quarter. Sei Investments Co. now owns 305,871 shares of the asset manager’s stock worth $17,392,000 after purchasing an additional 47,176 shares during the last quarter. 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.