Moelis & Company (NYSE:MC) Price Target Cut to $73.00 by Analysts at Morgan Stanley

Moelis & Company (NYSE:MC) had its price target cut by analysts at Morgan Stanley from $77.00 to $73.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. Morgan Stanley‘s price target would indicate a potential upside of 26.58% from the stock’s previous close.

MC has been the subject of a number of other reports. Keefe, Bruyette & Woods upgraded shares of Moelis & Company from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, October 7th. UBS Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $60.00 to $59.00 in a report on Wednesday, October 7th. Wall Street Zen raised Moelis & Company from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings downgraded Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 16th. Finally, JPMorgan Chase & Co. decreased their price target on Moelis & Company from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, October 27th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $68.17.

Moelis & Company Trading Up 1.3%

Shares of NYSE MC traded up $0.75 during midday trading on Monday, reaching $57.67. The company’s stock had a trading volume of 387,056 shares, compared to its average volume of 1,049,194. Moelis & Company has a fifty-two week low of $51.06 and a fifty-two week high of $78.22. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.39 and a beta of 1.87. The stock has a 50 day simple moving average of $59.35 and a 200-day simple moving average of $63.68.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Thursday, November 5th. The asset manager reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Moelis & Company had a net margin of 14.22% and a return on equity of 40.03%. The business had revenue of $425.58 million for the quarter, compared to analyst estimates of $434.17 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. As a group, equities analysts anticipate that Moelis & Company will post 3.01 EPS for the current year.

Insider Buying and Selling at Moelis & Company

In other news, Director Kenneth Shropshire sold 1,881 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $69.06, for a total value of $129,901.86. Following the sale, the director directly owned 7,633 shares of the company’s stock, valued at approximately $527,134.98. This represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.29% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Moelis & Company

A number of institutional investors have recently bought and sold shares of the business. Allied Private Wealth LLC acquired a new stake in shares of Moelis & Company in the second quarter valued at approximately $25,000. Gen Wealth Partners Inc acquired a new position in shares of Moelis & Company in the third quarter valued at $31,000. Root Financial Partners LLC bought a new position in Moelis & Company in the 3rd quarter valued at about $41,000. Farther Finance Advisors LLC boosted its holdings in shares of Moelis & Company by 166.2% during the third quarter. Farther Finance Advisors LLC now owns 788 shares of the asset manager’s stock worth $45,000 after acquiring an additional 492 shares during the period. Finally, Western Wealth Management LLC acquired a new position in shares of Moelis & Company in the first quarter valued at approximately $51,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Company Profile

Moelis & Company is an independent investment bank that provides strategic and financial advice to corporations, governments, financial sponsors and investors. Its advisory work includes mergers and acquisitions, restructurings, recapitalizations, liability management and other complex financial matters.

Founded in 2007 by investment banker Kenneth Moelis, the firm has expanded from its U.S. base to serve clients through offices across the Americas, Europe, the Middle East and Asia. Its teams advise clients on transactions and strategic decisions across a range of industries.

Kenneth Moelis is the company’s founder and has served as its chairman and chief executive officer.