Moelis & Company (NYSE:MC) Coverage Initiated at Bank of America

Equities research analysts at Bank of America began coverage on shares of Moelis & Company (NYSE:MC) in a research note issued on Monday, MarketBeat reports. The firm set a “neutral” rating and a $81.00 price target on the asset manager’s stock. Bank of America‘s price target would indicate a potential upside of 10.93% from the company’s current price.

MC has been the topic of several other research reports. Keefe, Bruyette & Woods downgraded shares of Moelis & Company from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $78.00 to $80.00 in a research note on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Moelis & Company in a report on Thursday, October 9th. They set a “buy” rating and a $80.00 price target for the company. Zacks Research cut shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Morgan Stanley raised their price objective on shares of Moelis & Company from $86.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Finally, UBS Group boosted their target price on Moelis & Company from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $73.00.

Moelis & Company Stock Down 0.8%

MC traded down $0.62 during midday trading on Monday, reaching $73.02. 76,299 shares of the company’s stock were exchanged, compared to its average volume of 715,364. The business has a 50-day simple moving average of $69.73 and a two-hundred day simple moving average of $69.88. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 0.59 and a beta of 1.85. Moelis & Company has a one year low of $47.00 and a one year high of $82.89.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. The business had revenue of $356.89 million during the quarter, compared to analysts’ expectations of $336.14 million. Moelis & Company had a return on equity of 45.62% and a net margin of 15.98%.Moelis & Company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. As a group, research analysts anticipate that Moelis & Company will post 2.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. AE Wealth Management LLC bought a new stake in shares of Moelis & Company in the 2nd quarter valued at $207,000. Wealth Enhancement Advisory Services LLC grew its stake in Moelis & Company by 5.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 354,658 shares of the asset manager’s stock valued at $23,691,000 after acquiring an additional 17,740 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Moelis & Company by 21.2% in the second quarter. State of New Jersey Common Pension Fund D now owns 33,294 shares of the asset manager’s stock valued at $2,075,000 after acquiring an additional 5,819 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Moelis & Company by 22.2% in the second quarter. Janney Montgomery Scott LLC now owns 26,619 shares of the asset manager’s stock worth $1,659,000 after acquiring an additional 4,828 shares in the last quarter. Finally, Moran Wealth Management LLC acquired a new stake in shares of Moelis & Company during the second quarter worth about $2,358,000. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.