Moelis & Company (NYSE:MC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “
Other analysts also recently issued research reports about the company. UBS AG boosted their price objective on Moelis & from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. JMP Securities upped their price target on Moelis & from $44.00 to $47.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 26th. Morgan Stanley increased their target price on Moelis & from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. BidaskClub raised Moelis & from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Finally, Bank of America Corporation upped their price target on Moelis & from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.00.
Moelis & (NYSE:MC) last issued its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. The firm had revenue of $170.00 million during the quarter, compared to the consensus estimate of $168.51 million. Moelis & had a return on equity of 56.83% and a net margin of 9.62%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.44 EPS.
In related news, CEO Kenneth Moelis sold 9,500 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $42.41, for a total transaction of $402,895.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 52.64% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in Moelis & by 150.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 136,424 shares of the asset manager’s stock worth $5,252,000 after purchasing an additional 81,877 shares during the period. Principal Financial Group Inc. grew its position in shares of Moelis & by 76.7% in the second quarter. Principal Financial Group Inc. now owns 492,290 shares of the asset manager’s stock valued at $19,125,000 after purchasing an additional 213,740 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Moelis & in the second quarter valued at approximately $875,000. Morgan Stanley grew its position in Moelis & by 17.4% in the first quarter. Morgan Stanley now owns 319,532 shares of the asset manager’s stock worth $12,302,000 after acquiring an additional 47,402 shares during the period. Finally, Teachers Advisors LLC grew its position in Moelis & by 2.5% in the second quarter. Teachers Advisors LLC now owns 117,042 shares of the asset manager’s stock worth $4,547,000 after acquiring an additional 2,863 shares during the period. 90.80% of the stock is owned by institutional investors and hedge funds.
About Moelis &
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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