Moelis & Co (NYSE:MC) Given New $39.00 Price Target at Morgan Stanley

Moelis & Co (NYSE:MC) had its price objective decreased by Morgan Stanley from $41.00 to $39.00 in a research report released on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the asset manager’s stock.

A number of other analysts have also commented on MC. ValuEngine upgraded shares of Moelis & Co from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of Moelis & Co from a hold rating to a sell rating and set a $38.00 price target for the company. in a research note on Monday, August 5th. Buckingham Research reduced their price target on shares of Moelis & Co from $53.00 to $44.00 and set a buy rating for the company in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods reiterated a market perform rating and issued a $39.00 price target (down from $42.00) on shares of Moelis & Co in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $44.63.

NYSE:MC opened at $31.65 on Tuesday. The firm has a market cap of $1.89 billion, a P/E ratio of 10.55 and a beta of 1.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.18 and a current ratio of 7.18. Moelis & Co has a fifty-two week low of $29.56 and a fifty-two week high of $52.90. The firm has a 50-day simple moving average of $32.91 and a two-hundred day simple moving average of $35.04.

Moelis & Co (NYSE:MC) last released its quarterly earnings data on Tuesday, July 30th. The asset manager reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.22. Moelis & Co had a net margin of 15.56% and a return on equity of 46.30%. The business had revenue of $153.50 million during the quarter, compared to analyst estimates of $153.84 million. During the same period last year, the business earned $0.78 EPS. Moelis & Co’s revenue was down 30.4% compared to the same quarter last year. On average, equities research analysts predict that Moelis & Co will post 2 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 9th were paid a $0.50 dividend. The ex-dividend date was Thursday, August 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.32%. Moelis & Co’s dividend payout ratio is presently 66.67%.

In other news, CFO Joseph Simon sold 17,528 shares of Moelis & Co stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $33.64, for a total value of $589,641.92. Following the completion of the sale, the chief financial officer now directly owns 43,374 shares in the company, valued at $1,459,101.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.67% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MC. Kayne Anderson Rudnick Investment Management LLC grew its position in Moelis & Co by 13.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 8,424,366 shares of the asset manager’s stock valued at $294,432,000 after buying an additional 976,172 shares during the period. JPMorgan Chase & Co. grew its position in Moelis & Co by 36.9% during the second quarter. JPMorgan Chase & Co. now owns 2,203,516 shares of the asset manager’s stock valued at $76,065,000 after buying an additional 593,438 shares during the period. Westwood Holdings Group Inc. bought a new stake in Moelis & Co during the second quarter valued at approximately $16,452,000. Wasatch Advisors Inc. bought a new stake in Moelis & Co during the second quarter valued at approximately $14,557,000. Finally, Point72 Asset Management L.P. bought a new stake in Moelis & Co during the second quarter valued at approximately $12,098,000. Institutional investors own 74.84% of the company’s stock.

About Moelis & Co

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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