Moelis & Company (NYSE:MC) Price Target Raised to $78.00 at Wells Fargo & Company

Moelis & Company (NYSE:MC) had its price target hoisted by Wells Fargo & Company from $70.00 to $78.00 in a report issued on Thursday morning,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

Several other research analysts have also recently issued reports on MC. UBS Group increased their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Morgan Stanley raised Moelis & Company from an “underweight” rating to an “overweight” rating and increased their price target for the company from $66.00 to $92.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and a consensus price target of $66.50.

Moelis & Company Price Performance

MC opened at $75.09 on Thursday. The stock’s 50 day moving average price is $72.36 and its 200 day moving average price is $65.51. The stock has a market cap of $5.63 billion, a P/E ratio of 141.68 and a beta of 1.37. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $81.60.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $273.76 million for the quarter, compared to analysts’ expectations of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The company’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) earnings per share. Equities analysts anticipate that Moelis & Company will post 0.96 EPS for the current year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were paid a $0.60 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.20%. Moelis & Company’s dividend payout ratio is currently 452.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new stake in Moelis & Company in the 3rd quarter worth about $26,000. UMB Bank n.a. boosted its stake in shares of Moelis & Company by 63.5% during the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after buying an additional 193 shares during the period. GAMMA Investing LLC grew its holdings in shares of Moelis & Company by 115.8% during the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after acquiring an additional 534 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Moelis & Company by 193.0% during the 3rd quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after acquiring an additional 712 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Moelis & Company in the third quarter worth $75,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Company Profile

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.