Moelis & Company (NYSE:MC) Shares Break Above 50 Day Moving Average – What’s Next?

Moelis & Company (NYSE:MC)’s share price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $60.08 and traded as high as $62.08. Moelis & Company shares last traded at $60.7720, with a volume of 1,099,460 shares.

Wall Street Analysts Forecast Growth

MC has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price objective on shares of Moelis & Company from $71.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. Keefe, Bruyette & Woods upgraded shares of Moelis & Company from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, October 7th. Weiss Ratings downgraded shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 16th. UBS Group upgraded shares of Moelis & Company from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $60.00 to $59.00 in a research note on Wednesday, October 7th. Finally, Wall Street Zen raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.83.

Moelis & Company Stock Performance

The firm has a fifty day moving average price of $60.08 and a 200 day moving average price of $64.02. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 2.45 and a beta of 1.91.

Insider Transactions at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 1,881 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $69.06, for a total value of $129,901.86. Following the completion of the transaction, the director owned 7,633 shares in the company, valued at approximately $527,134.98. This represents a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.29% of the company’s stock.

Institutional Investors Weigh In On Moelis & Company

Institutional investors have recently made changes to their positions in the stock. Allied Private Wealth LLC acquired a new position in shares of Moelis & Company during the 2nd quarter worth $25,000. Root Financial Partners LLC lifted its stake in shares of Moelis & Company by 292.2% in the first quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 339 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Moelis & Company by 166.2% in the third quarter. Farther Finance Advisors LLC now owns 788 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 492 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Moelis & Company in the first quarter valued at about $51,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Moelis & Company by 44.3% during the first quarter. EverSource Wealth Advisors LLC now owns 1,183 shares of the asset manager’s stock worth $67,000 after buying an additional 363 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

About Moelis & Company

Moelis & Company (NYSE: MC) is an independent global investment bank that provides strategic and financial advisory services to corporations, financial sponsors, governments and other institutions. Its advisory platform focuses on mergers and acquisitions, recapitalizations, restructurings, capital raising and other complex corporate finance matters.

The firm advises clients across a range of industries, including technology, media and telecommunications; financial services; consumer and retail; energy and infrastructure; healthcare; and industrials.