The Goldman Sachs Group Issues Pessimistic Forecast for Moelis & Company (NYSE:MC) Stock Price

Moelis & Company (NYSE:MC) had its price target dropped by investment analysts at The Goldman Sachs Group from $70.00 to $62.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 8.28% from the company’s previous close.

MC has been the subject of a number of other research reports. Bank of America started coverage on Moelis & Company in a research note on Monday, January 26th. They issued a “neutral” rating and a $81.00 target price for the company. Morgan Stanley boosted their price target on Moelis & Company from $89.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Keefe, Bruyette & Woods lowered shares of Moelis & Company from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $78.00 to $80.00 in a research note on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Moelis & Company in a research report on Monday, December 29th. Finally, UBS Group decreased their target price on shares of Moelis & Company from $74.00 to $59.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.56.

Moelis & Company Stock Performance

Moelis & Company stock traded up $0.26 during trading on Wednesday, reaching $57.26. 468,618 shares of the company’s stock were exchanged, compared to its average volume of 1,229,478. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $78.22. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 0.59 and a beta of 1.90. The company’s 50-day moving average is $62.65 and its two-hundred day moving average is $66.71.

Moelis & Company (NYSE:MC) last released its quarterly earnings data on Wednesday, February 4th. The asset manager reported $1.13 EPS for the quarter, beating the consensus estimate of $0.76 by $0.37. The company had revenue of $487.94 million for the quarter, compared to analyst estimates of $430.17 million. Moelis & Company had a return on equity of 41.67% and a net margin of 15.36%.The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $1.18 earnings per share. Analysts anticipate that Moelis & Company will post 2.97 EPS for the current year.

Insider Transactions at Moelis & Company

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 2,765 shares of Moelis & Company stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $62.23, for a total transaction of $172,065.95. Following the sale, the general counsel directly owned 4,981 shares in the company, valued at $309,967.63. The trade was a 35.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Moelis & Company

Several institutional investors and hedge funds have recently made changes to their positions in MC. Hsbc Holdings PLC increased its stake in shares of Moelis & Company by 541.5% in the fourth quarter. Hsbc Holdings PLC now owns 19,726 shares of the asset manager’s stock worth $1,364,000 after buying an additional 16,651 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Moelis & Company by 11.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 5,512 shares of the asset manager’s stock valued at $379,000 after acquiring an additional 548 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Moelis & Company by 43.6% during the 4th quarter. Corient Private Wealth LLC now owns 10,486 shares of the asset manager’s stock valued at $721,000 after acquiring an additional 3,182 shares during the last quarter. DGS Capital Management LLC boosted its stake in Moelis & Company by 50.8% during the 4th quarter. DGS Capital Management LLC now owns 6,912 shares of the asset manager’s stock valued at $475,000 after acquiring an additional 2,329 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Moelis & Company by 18.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 14,962 shares of the asset manager’s stock worth $1,028,000 after acquiring an additional 2,287 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

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.