Moelis & Company (NYSE:MC) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Moelis & Company (NYSE:MC) had its price objective boosted by analysts at Morgan Stanley from $86.00 to $89.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential upside of 17.35% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a research note on Monday, December 29th. Seaport Res Ptn raised Moelis & Company from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Zacks Research downgraded Moelis & Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. BMO Capital Markets initiated coverage on Moelis & Company in a research note on Friday, October 3rd. They issued a “market perform” rating and a $74.00 price target on the stock. Finally, UBS Group started coverage on Moelis & Company in a report on Thursday, December 11th. They set a “neutral” rating and a $70.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $71.50.

Moelis & Company Stock Up 1.7%

Shares of NYSE:MC traded up $1.29 during midday trading on Tuesday, hitting $75.84. The stock had a trading volume of 65,963 shares, compared to its average volume of 561,936. The company has a market cap of $5.94 billion, a P/E ratio of 25.26, a PEG ratio of 0.58 and a beta of 1.85. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89. The business’s 50-day simple moving average is $66.60 and its 200-day simple moving average is $68.70.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.11. The firm had revenue of $356.89 million for the quarter, compared to analyst estimates of $336.14 million. Moelis & Company had a net margin of 15.98% and a return on equity of 45.62%. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share. As a group, equities analysts predict that Moelis & Company will post 2.97 earnings per share for the current year.

Institutional Investors Weigh In On Moelis & Company

Institutional investors have recently modified their holdings of the business. AE Wealth Management LLC acquired a new stake in Moelis & Company in the second quarter valued at approximately $207,000. Goldman Sachs Group Inc. lifted its stake in shares of Moelis & Company by 32.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager’s stock valued at $137,548,000 after acquiring an additional 579,529 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Moelis & Company by 21.2% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 33,294 shares of the asset manager’s stock valued at $2,075,000 after acquiring an additional 5,819 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Moelis & Company by 22.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 26,619 shares of the asset manager’s stock valued at $1,659,000 after acquiring an additional 4,828 shares in the last quarter. Finally, Moran Wealth Management LLC bought a new stake in Moelis & Company during the 2nd quarter worth $2,358,000. Institutional investors own 91.53% of the company’s stock.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.