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

Zacks Investment Research downgraded shares of Moelis & Co (NYSE:MC) from a buy rating to a hold rating in a research note published on Friday.

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. “

A number of other equities analysts have also recently commented on the stock. Morgan Stanley lifted their target price on shares of Moelis & Co from $45.00 to $49.00 and gave the stock an overweight rating in a research report on Thursday, October 26th. JMP Securities lifted their target price on shares of Moelis & Co from $44.00 to $47.00 and gave the stock a market outperform rating in a research report on Thursday, October 26th. UBS Group lifted their target price on shares of Moelis & Co from $42.00 to $45.00 and gave the stock a neutral rating in a research report on Thursday, October 26th. Finally, ValuEngine upgraded shares of Moelis & Co from a hold rating to a buy rating in a research report on Sunday, December 31st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $46.67.

Moelis & Co (NYSE:MC) traded up $0.05 during midday trading on Friday, hitting $48.60. 345,900 shares of the stock were exchanged, compared to its average volume of 261,280. Moelis & Co has a 52 week low of $33.10 and a 52 week high of $50.40. The company has a market cap of $2,590.00, a P/E ratio of 23.25, a P/E/G ratio of 2.05 and a beta of 1.91.

Moelis & Co (NYSE:MC) last posted its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.15. The company had revenue of $170.00 million during the quarter, compared to the consensus estimate of $168.51 million. Moelis & Co had a net margin of 9.62% and a return on equity of 52.76%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. equities research analysts forecast that Moelis & Co will post 2.42 EPS for the current year.

In other Moelis & Co news, Chairman Kenneth Moelis sold 40,800 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $42.66, for a total value of $1,740,528.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 80,956 shares of company stock worth $3,451,515 in the last 90 days. Corporate insiders own 52.64% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ffcm LLC purchased a new position in shares of Moelis & Co during the second quarter valued at about $112,000. BNP Paribas Arbitrage SA increased its position in shares of Moelis & Co by 594.2% during the second quarter. BNP Paribas Arbitrage SA now owns 2,978 shares of the asset manager’s stock valued at $116,000 after buying an additional 2,549 shares during the period. Advisor Group Inc. purchased a new position in shares of Moelis & Co during the third quarter valued at about $138,000. Great West Life Assurance Co. Can increased its position in shares of Moelis & Co by 69.3% during the third quarter. Great West Life Assurance Co. Can now owns 3,523 shares of the asset manager’s stock valued at $152,000 after buying an additional 1,442 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Moelis & Co during the second quarter valued at about $171,000. Institutional investors own 56.70% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This report was first published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright and trademark law. The original version of this report can be read at https://www.com-unik.info/2018/01/09/moelis-co-mc-stock-rating-lowered-by-zacks-investment-research.html.

About Moelis & Co

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.

Get a free copy of the Zacks research report on Moelis & Co (MC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Moelis & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Co and related companies with MarketBeat.com's FREE daily email newsletter.

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