Moelis & Co (NYSE:MC) Price Target Cut to $44.00

Moelis & Co (NYSE:MC) had its price objective trimmed by Buckingham Research from $53.00 to $44.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm currently has a buy rating on the asset manager’s stock.

Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Whiting USA Trust II from a hold rating to a sell rating in a research note on Tuesday, May 7th. Bank of America set a $7.00 target price on shares of Deutsche Bank and gave the company a sell rating in a research note on Thursday, April 11th. Morgan Stanley set a $36.00 target price on shares of ArcBest and gave the company a hold rating in a research note on Monday, July 8th. JMP Securities upped their target price on shares of Stifel Financial from $61.00 to $65.00 and gave the company a market outperform rating in a research note on Monday, April 8th. Finally, Zacks Investment Research upgraded shares of Hope Bancorp from a sell rating to a hold rating in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $50.56.

MC opened at $34.39 on Thursday. The company has a quick ratio of 10.48, a current ratio of 10.48 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.05 billion, a PE ratio of 11.46, a P/E/G ratio of 1.37 and a beta of 1.98. The company’s 50-day moving average is $33.66. Moelis & Co has a 52-week low of $31.64 and a 52-week high of $65.94.

Moelis & Co (NYSE:MC) last posted its earnings results on Tuesday, April 30th. The asset manager reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.08. The business had revenue of $137.78 million for the quarter, compared to analysts’ expectations of $141.54 million. Moelis & Co had a net margin of 15.04% and a return on equity of 49.19%. The business’s revenue for the quarter was down 37.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS. Research analysts forecast that Moelis & Co will post 2.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Friday, May 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend was Thursday, May 9th. Moelis & Co’s payout ratio is currently 66.67%.

In other Moelis & Co news, General Counsel Osamu R. Watanabe sold 16,972 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $636,450.00. Following the completion of the sale, the general counsel now directly owns 34,075 shares of the company’s stock, valued at approximately $1,277,812.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher Callesano sold 3,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $38.00, for a total value of $133,000.00. Following the transaction, the insider now owns 7,269 shares of the company’s stock, valued at $276,222. The disclosure for this sale can be found here. Insiders have sold a total of 227,181 shares of company stock valued at $8,350,975 in the last ninety days. Insiders own 19.67% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MC. Kayne Anderson Rudnick Investment Management LLC increased its stake in Moelis & Co by 4.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,448,194 shares of the asset manager’s stock worth $309,920,000 after purchasing an additional 331,793 shares during the period. JPMorgan Chase & Co. increased its stake in Moelis & Co by 6.2% in the first quarter. JPMorgan Chase & Co. now owns 1,610,078 shares of the asset manager’s stock worth $66,995,000 after purchasing an additional 94,626 shares during the period. Wells Fargo & Company MN increased its stake in Moelis & Co by 33.1% in the first quarter. Wells Fargo & Company MN now owns 1,269,795 shares of the asset manager’s stock worth $52,837,000 after purchasing an additional 316,116 shares during the period. APG Asset Management N.V. increased its stake in Moelis & Co by 25.6% in the fourth quarter. APG Asset Management N.V. now owns 967,000 shares of the asset manager’s stock worth $29,082,000 after purchasing an additional 197,100 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Moelis & Co by 10.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 718,906 shares of the asset manager’s stock worth $24,716,000 after purchasing an additional 65,485 shares during the period. Hedge funds and other institutional investors own 74.67% of the company’s stock.

Moelis & Co Company Profile

Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.

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Analyst Recommendations for Moelis & Co (NYSE:MC)

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