Morgan Stanley Lowers Moelis & Co (MC) to Equal Weight

Morgan Stanley lowered shares of Moelis & Co (NYSE:MC) from an overweight rating to an equal weight rating in a research report sent to investors on Thursday, Marketbeat.com reports. They currently have $63.00 target price on the asset manager’s stock. The analysts noted that the move was a valuation call.

Several other research analysts also recently weighed in on MC. Zacks Investment Research downgraded Moelis & Co from a buy rating to a hold rating in a research note on Tuesday, March 27th. JMP Securities lifted their price target on Moelis & Co from $55.00 to $57.00 and gave the stock a market outperform rating in a research report on Tuesday, April 24th. Finally, Buckingham Research lifted their price target on Moelis & Co from $60.00 to $69.00 and gave the stock a buy rating in a research report on Monday, June 4th. 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 $59.17.

Shares of Moelis & Co opened at $60.50 on Thursday, Marketbeat.com reports. Moelis & Co has a 1-year low of $37.50 and a 1-year high of $67.65. The firm has a market cap of $3.41 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 2.17 and a beta of 1.73.



Moelis & Co (NYSE:MC) last announced its earnings results on Monday, April 23rd. The asset manager reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Moelis & Co had a return on equity of 50.44% and a net margin of 6.49%. The firm had revenue of $219.40 million for the quarter, compared to the consensus estimate of $200.24 million. During the same period in the previous year, the business earned $0.54 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. analysts predict that Moelis & Co will post 2.72 earnings per share for the current year.

In other Moelis & Co news, COO Elizabeth Crain sold 4,535 shares of Moelis & Co stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $54.45, for a total transaction of $246,930.75. Following the completion of the sale, the chief operating officer now owns 9,070 shares of the company’s stock, valued at approximately $493,861.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Osamu R. Watanabe sold 5,182 shares of the business’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $56.80, for a total value of $294,337.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,704 shares of company stock valued at $10,868,750. 29.91% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of MC. Schwab Charles Investment Management Inc. lifted its holdings in shares of Moelis & Co by 3.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 159,446 shares of the asset manager’s stock valued at $7,734,000 after buying an additional 4,752 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Moelis & Co by 6.5% in the 4th quarter. Victory Capital Management Inc. now owns 18,252 shares of the asset manager’s stock valued at $885,000 after buying an additional 1,106 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Moelis & Co in the 4th quarter valued at about $553,000. California Public Employees Retirement System lifted its holdings in shares of Moelis & Co by 17.4% in the 4th quarter. California Public Employees Retirement System now owns 19,388 shares of the asset manager’s stock valued at $940,000 after buying an additional 2,868 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Moelis & Co by 56.0% in the 4th quarter. First Trust Advisors LP now owns 105,387 shares of the asset manager’s stock valued at $5,111,000 after buying an additional 37,831 shares during the period. 66.57% of the stock is 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.

Analyst Recommendations for Moelis & Co (NYSE:MC)

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