Moelis & Company (NYSE:MC) Price Target Increased to $51.00 by Analysts at JPMorgan Chase & Co.

Moelis & Company (NYSE:MC) had its price objective raised by analysts at JPMorgan Chase & Co. from $50.00 to $51.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 22.72% from the company’s current price.

Other equities research analysts also recently issued reports about the company. UBS Group upped their target price on Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 price target (down from $58.00) on shares of Moelis & Company in a research note on Thursday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Finally, Morgan Stanley upped their price target on shares of Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, Moelis & Company has an average rating of “Hold” and an average price target of $56.00.

Moelis & Company Trading Up 5.1 %

Moelis & Company stock traded up $3.20 during midday trading on Thursday, hitting $65.99. The stock had a trading volume of 213,794 shares, compared to its average volume of 601,707. The stock has a market cap of $4.94 billion, a P/E ratio of -347.74 and a beta of 1.35. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $68.50. The business has a fifty day moving average price of $57.20 and a 200 day moving average price of $55.22.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $264.59 million during the quarter, compared to analyst estimates of $227.90 million. Moelis & Company had a negative return on equity of 0.12% and a negative net margin of 1.33%. Moelis & Company’s quarterly revenue was up 47.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, equities analysts anticipate that Moelis & Company will post 1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Moelis & Company news, insider Navid Mahmoodzadegan sold 44,980 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Moelis & Company news, insider Navid Mahmoodzadegan sold 44,980 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kenneth Moelis sold 40,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the sale, the chief executive officer now owns 42,441 shares of the company’s stock, valued at $2,290,965.18. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Moelis & Company

Several hedge funds have recently made changes to their positions in MC. Mendota Financial Group LLC bought a new stake in shares of Moelis & Company in the fourth quarter valued at about $34,000. GAMMA Investing LLC bought a new position in Moelis & Company during the fourth quarter worth about $34,000. Hexagon Capital Partners LLC lifted its stake in Moelis & Company by 147.9% during the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after purchasing an additional 392 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Moelis & Company by 510.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock worth $47,000 after purchasing an additional 699 shares during the period. Finally, Assetmark Inc. lifted its stake in Moelis & Company by 22.5% during the fourth quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock worth $84,000 after purchasing an additional 276 shares during the period. Institutional investors own 91.53% of the company’s stock.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.