Moelis & Co (MC) Upgraded to Buy at Zacks Investment Research

Moelis & Co (NYSE:MC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, December 27th. The brokerage currently has a $55.00 price target on the asset manager’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.89% from the stock’s current price.

According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “

MC has been the subject of a number of other research reports. UBS Group boosted their price objective on shares of Moelis & Co from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. JMP Securities boosted their price objective on shares of Moelis & Co from $44.00 to $47.00 and gave the company a “market outperform” rating in a report on Thursday, October 26th. Finally, Morgan Stanley boosted their price objective on shares of Moelis & Co from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $46.67.

Shares of Moelis & Co (MC) opened at $49.60 on Wednesday. The company has a market cap of $2,650.00, a PE ratio of 23.73, a P/E/G ratio of 2.05 and a beta of 1.91. Moelis & Co has a twelve month low of $33.10 and a twelve month high of $50.40.

Moelis & Co (NYSE:MC) last posted its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. The firm had revenue of $170.00 million during the quarter, compared to the consensus estimate of $168.51 million. Moelis & Co had a net margin of 9.62% and a return on equity of 52.76%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. equities analysts predict that Moelis & Co will post 2.42 earnings per share for the current year.

In other news, CEO Kenneth Moelis sold 9,500 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $42.41, for a total value of $402,895.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 80,956 shares of company stock valued at $3,451,515 over the last 90 days. Corporate insiders own 52.64% of the company’s stock.

Large investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. increased its position in Moelis & Co by 0.8% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 26,810 shares of the asset manager’s stock worth $1,041,000 after purchasing an additional 210 shares in the last quarter. Stifel Financial Corp increased its position in Moelis & Co by 1.3% during the 2nd quarter. Stifel Financial Corp now owns 36,542 shares of the asset manager’s stock worth $1,422,000 after purchasing an additional 478 shares in the last quarter. Legal & General Group Plc increased its position in Moelis & Co by 11.7% during the 2nd quarter. Legal & General Group Plc now owns 6,427 shares of the asset manager’s stock worth $249,000 after purchasing an additional 674 shares in the last quarter. Alliancebernstein L.P. increased its position in Moelis & Co by 1.9% during the 2nd quarter. Alliancebernstein L.P. now owns 41,300 shares of the asset manager’s stock worth $1,605,000 after purchasing an additional 780 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Moelis & Co by 8.1% during the 2nd quarter. Victory Capital Management Inc. now owns 13,829 shares of the asset manager’s stock worth $537,000 after purchasing an additional 1,034 shares in the last quarter. Institutional investors own 56.70% of the company’s stock.

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About Moelis & Co

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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