Moelis & Company (NYSE:MC) Price Target Raised to $83.00 at Wells Fargo & Company

Moelis & Company (NYSE:MC) had its price target increased by investment analysts at Wells Fargo & Company from $77.00 to $83.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 1.28% from the stock’s current price.

MC has been the topic of several other reports. Morgan Stanley boosted their target price on Moelis & Company from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods upgraded shares of Moelis & Company from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $71.00 to $86.00 in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $73.00.

Moelis & Company Stock Up 2.9 %

Shares of MC stock traded up $2.27 during mid-day trading on Thursday, reaching $81.95. 423,008 shares of the company’s stock traded hands, compared to its average volume of 700,070. The company’s 50-day moving average price is $75.40 and its 200-day moving average price is $70.67. The company has a market cap of $6.14 billion, a P/E ratio of 153.88 and a beta of 1.40. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $82.89.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, February 5th. The asset manager reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.79. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. Equities analysts predict that Moelis & Company will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Moelis & Company

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Moelis & Company by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,590,316 shares of the asset manager’s stock valued at $108,973,000 after acquiring an additional 10,698 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Moelis & Company by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,920 shares of the asset manager’s stock worth $63,229,000 after purchasing an additional 16,830 shares during the period. Natixis Advisors LLC grew its holdings in Moelis & Company by 13.7% during the 3rd quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock valued at $55,141,000 after buying an additional 96,720 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Moelis & Company by 7.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 768,945 shares of the asset manager’s stock valued at $56,810,000 after buying an additional 53,473 shares during the last quarter. Finally, Emerald Advisers LLC raised its position in shares of Moelis & Company by 1.3% during the third quarter. Emerald Advisers LLC now owns 440,330 shares of the asset manager’s stock valued at $30,167,000 after buying an additional 5,844 shares during the last quarter. 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.