Moelis & Company (NYSE:MC) Stock Has Average Price Target of $71.00

Moelis & Company (NYSE:MC) has received a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $68.83.

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of Moelis & Company from $71.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Zacks Research upgraded shares of Moelis & Company from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. UBS Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and cut their price objective for the company from $60.00 to $59.00 in a research report on Wednesday, October 7th. Weiss Ratings lowered shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Moelis & Company from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Tuesday.

Insider Buying and Selling at Moelis & Company

In other news, General Counsel Osamu R. Watanabe sold 4,850 shares of Moelis & Company stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $69.30, for a total value of $336,105.00. Following the completion of the sale, the general counsel owned 131 shares of the company’s stock, valued at $9,078.30. The trade was a 97.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Shropshire sold 1,881 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $69.06, for a total value of $129,901.86. Following the completion of the transaction, the director owned 7,633 shares of the company’s stock, valued at $527,134.98. The trade was a 19.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.29% of the stock is owned by company insiders.

Institutional Trading of Moelis & Company

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Moelis & Company by 11.5% in the second quarter. GAMMA Investing LLC now owns 1,489 shares of the asset manager’s stock worth $97,000 after acquiring an additional 153 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in Moelis & Company by 8.0% in the second quarter. Central Pacific Bank Trust Division now owns 2,690 shares of the asset manager’s stock valued at $176,000 after purchasing an additional 200 shares during the period. Diversify Wealth Management LLC grew its holdings in Moelis & Company by 0.3% in the first quarter. Diversify Wealth Management LLC now owns 95,168 shares of the asset manager’s stock valued at $5,425,000 after purchasing an additional 238 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Moelis & Company by 6.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 4,709 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 270 shares during the period. Finally, Root Financial Partners LLC increased its position in Moelis & Company by 292.2% during the first quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock worth $26,000 after purchasing an additional 339 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Stock Up 2.8%

Shares of NYSE:MC opened at $59.92 on Friday. The company has a market capitalization of $4.69 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.45 and a beta of 1.91. Moelis & Company has a 52-week low of $51.06 and a 52-week high of $78.22. The stock’s fifty day simple moving average is $60.39 and its 200-day simple moving average is $64.17.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Moelis & Company had a return on equity of 39.59% and a net margin of 14.50%. The firm had revenue of $409.39 million during the quarter, compared to analysts’ expectations of $387.27 million. During the same quarter last year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Moelis & Company will post 3.01 earnings per share for the current year.

About Moelis & Company

Moelis & Company (NYSE: MC) is an independent global investment bank that provides strategic and financial advisory services to corporations, financial sponsors, governments and other institutions. Its advisory platform focuses on mergers and acquisitions, recapitalizations, restructurings, capital raising and other complex corporate finance matters.

The firm advises clients across a range of industries, including technology, media and telecommunications; financial services; consumer and retail; energy and infrastructure; healthcare; and industrials.