UBS Group upgraded shares of Moelis & Co (NYSE:MC) from a sell rating to a neutral rating in a research note issued to investors on Friday morning, Briefing.com reports. UBS Group currently has $38.00 price target on the asset manager’s stock.
A number of other research firms have also recently weighed in on MC. Morgan Stanley lowered their price target on Moelis & Co from $31.00 to $29.00 and set an equal weight rating on the stock in a report on Thursday, July 30th. TheStreet cut Moelis & Co from a b- rating to a c rating in a report on Monday, August 31st. Goldman Sachs Group cut Moelis & Co from a neutral rating to a sell rating and lowered their price target for the stock from $27.00 to $24.00 in a report on Wednesday, August 5th. Wolfe Research began coverage on Moelis & Co in a report on Wednesday, July 22nd. They issued an underperform rating and a $19.00 price target on the stock. Finally, Piper Sandler lowered their price target on Moelis & Co from $32.00 to $31.00 and set a neutral rating on the stock in a report on Thursday, July 30th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $32.10.
MC stock opened at $35.13 on Friday. The company’s 50-day moving average price is $32.43 and its 200 day moving average price is $31.09. Moelis & Co has a 52 week low of $22.11 and a 52 week high of $41.27. The company has a market cap of $2.24 billion, a P/E ratio of 24.23 and a beta of 1.47.
Moelis & Co (NYSE:MC) last announced its quarterly earnings results on Wednesday, July 29th. The asset manager reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.03. The business had revenue of $159.90 million for the quarter, compared to analyst estimates of $146.57 million. Moelis & Co had a return on equity of 27.71% and a net margin of 10.60%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 EPS. As a group, analysts predict that Moelis & Co will post 0.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, August 10th were given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Friday, August 7th. Moelis & Co’s dividend payout ratio (DPR) is presently 52.04%.
In related news, COO Elizabeth Crain sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $32.43, for a total value of $648,600.00. Following the completion of the sale, the chief operating officer now directly owns 75,969 shares of the company’s stock, valued at $2,463,674.67. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 17.99% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Moelis & Co by 7.8% during the first quarter. Geode Capital Management LLC now owns 719,006 shares of the asset manager’s stock valued at $20,203,000 after buying an additional 52,244 shares in the last quarter. Strs Ohio boosted its position in shares of Moelis & Co by 3,666.7% in the 2nd quarter. Strs Ohio now owns 56,500 shares of the asset manager’s stock valued at $1,760,000 after purchasing an additional 55,000 shares during the period. Wells Fargo & Company MN boosted its position in shares of Moelis & Co by 10.1% in the 1st quarter. Wells Fargo & Company MN now owns 995,435 shares of the asset manager’s stock valued at $27,972,000 after purchasing an additional 91,678 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Moelis & Co by 52.4% in the 1st quarter. Nuveen Asset Management LLC now owns 357,749 shares of the asset manager’s stock valued at $10,053,000 after purchasing an additional 123,082 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Moelis & Co by 33.1% in the 1st quarter. Deutsche Bank AG now owns 201,976 shares of the asset manager’s stock valued at $5,676,000 after purchasing an additional 50,263 shares during the period. 91.03% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Story: Price-Sales Ratio
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.