Moelis & Company (NYSE:MC) had its price target increased by JMP Securities from $42.00 to $44.00 in a research report report published on Tuesday morning. JMP Securities currently has a market outperform rating on the asset manager’s stock.
A number of other research firms have also weighed in on MC. Bank of America Corporation boosted their target price on shares of Moelis & from $43.00 to $45.00 and gave the stock a buy rating in a research report on Tuesday. UBS AG reissued a neutral rating and set a $42.00 target price (up previously from $40.00) on shares of Moelis & in a research report on Tuesday. BidaskClub raised shares of Moelis & from a buy rating to a strong-buy rating in a research report on Wednesday, July 12th. Zacks Investment Research lowered shares of Moelis & from a strong-buy rating to a hold rating in a research report on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Moelis & in a research report on Friday, May 5th. They set a mkt perform rating for the company. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Moelis & has an average rating of Buy and a consensus price target of $38.67.
Shares of Moelis & (NYSE MC) traded down 4.395% during mid-day trading on Tuesday, hitting $41.875. The stock had a trading volume of 2,010,731 shares. Moelis & has a 52 week low of $23.60 and a 52 week high of $42.10. The stock has a market cap of $1.12 billion, a P/E ratio of 23.860 and a beta of 1.87. The stock has a 50-day moving average price of $38.68 and a 200 day moving average price of $37.13.
Moelis & (NYSE:MC) last released its earnings results on Monday, July 24th. The asset manager reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.15. The firm had revenue of $172.10 million during the quarter, compared to analyst estimates of $156.85 million. Moelis & had a net margin of 8.50% and a return on equity of 53.43%. The business’s revenue was up 30.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS. On average, equities analysts forecast that Moelis & will post $2.08 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Tuesday, August 1st. Moelis &’s dividend payout ratio is currently 74.00%.
In related news, Chairman Kenneth Moelis sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $37.46, for a total value of $561,900.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey Raich sold 31,345 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $38.22, for a total transaction of $1,198,005.90. Following the completion of the sale, the insider now directly owns 24,378 shares in the company, valued at approximately $931,727.16. The disclosure for this sale can be found here. Insiders have sold 51,260 shares of company stock valued at $1,949,035 in the last ninety days. 64.47% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its stake in Moelis & by 11.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,030 shares of the asset manager’s stock worth $117,000 after buying an additional 315 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Moelis & during the second quarter worth $130,000. Nisa Investment Advisors LLC acquired a new stake in Moelis & during the second quarter worth $144,000. Legal & General Group Plc boosted its stake in Moelis & by 26.5% in the first quarter. Legal & General Group Plc now owns 5,753 shares of the asset manager’s stock worth $220,000 after buying an additional 1,204 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Moelis & during the first quarter worth $264,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.
About Moelis &
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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