Moelis & Company (NYSE:MC) Given Average Recommendation of “Hold” by Brokerages

Shares of Moelis & Company (NYSE:MC) have been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $71.8889.

Several equities research analysts recently commented on the stock. Weiss Ratings lowered shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. The Goldman Sachs Group cut their price target on shares of Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. Morgan Stanley cut their price target on shares of Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Zacks Research lowered shares of Moelis & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 5th. Finally, UBS Group cut their price target on shares of Moelis & Company from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th.

Institutional Investors Weigh In On Moelis & Company

A number of large investors have recently modified their holdings of MC. Balyasny Asset Management L.P. purchased a new stake in shares of Moelis & Company during the fourth quarter worth $60,857,000. Norges Bank purchased a new stake in shares of Moelis & Company during the fourth quarter worth $42,919,000. The Manufacturers Life Insurance Company grew its holdings in shares of Moelis & Company by 1,161.8% during the second quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock worth $41,231,000 after buying an additional 609,162 shares in the last quarter. Madison Asset Management LLC grew its holdings in shares of Moelis & Company by 45.6% during the first quarter. Madison Asset Management LLC now owns 1,773,735 shares of the asset manager’s stock worth $101,103,000 after buying an additional 555,557 shares in the last quarter. Finally, Wasatch Advisors LP grew its holdings in shares of Moelis & Company by 16.1% during the third quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager’s stock worth $235,654,000 after buying an additional 458,575 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Stock Performance

Shares of NYSE MC opened at $64.79 on Monday. The firm has a market cap of $5.09 billion, a PE ratio of 23.31, a PEG ratio of 0.78 and a beta of 1.85. The firm has a fifty day moving average of $66.66 and a 200 day moving average of $66.01. Moelis & Company has a one year low of $51.06 and a one year high of $78.22.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, April 29th. The asset manager reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). The company had revenue of $319.78 million during the quarter, compared to analysts’ expectations of $321.51 million. Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.Moelis & Company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. On average, equities analysts predict that Moelis & Company will post 3.17 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, May 11th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.0%. Moelis & Company’s dividend payout ratio is presently 93.53%.

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.