Moelis & Company (MC) Stock Rating Lowered by Zacks Investment Research

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.

ILLEGAL ACTIVITY NOTICE: This article was first reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another website, it was stolen and reposted in violation of United States and international trademark and copyright laws. The correct version of this article can be accessed at https://www.com-unik.info/2017/11/03/moelis-company-mc-stock-rating-lowered-by-zacks-investment-research.html.

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.

Analyst Recommendations for Moelis & (NYSE:MC)

What are top analysts saying about Moelis & Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Moelis & Company and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit