StockNews.com Lowers Moelis & Company (NYSE:MC) to Sell

Moelis & Company (NYSE:MC) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Several other equities analysts have also commented on the stock. UBS Group increased their price objective on shares of Moelis & Company from $29.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, October 3rd. Morgan Stanley dropped their price objective on shares of Moelis & Company from $39.00 to $38.00 and set an “underweight” rating for the company in a research note on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, Based on data from MarketBeat, Moelis & Company currently has a consensus rating of “Reduce” and a consensus price target of $36.67.

Moelis & Company Trading Down 1.4 %

Shares of NYSE:MC traded down $0.63 during midday trading on Monday, reaching $44.69. 608,484 shares of the company were exchanged, compared to its average volume of 741,844. The business’s fifty day moving average is $43.80 and its two-hundred day moving average is $43.94. Moelis & Company has a one year low of $33.87 and a one year high of $52.50. The stock has a market cap of $3.18 billion, a PE ratio of 29.21 and a beta of 1.41.

Insiders Place Their Bets

In related news, CEO Kenneth Moelis sold 19,675 shares of Moelis & Company stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $41.66, for a total transaction of $819,660.50. Following the completion of the transaction, the chief executive officer now directly owns 5,308 shares of the company’s stock, valued at approximately $221,131.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.96% of the company’s stock.

Hedge Funds Weigh In On Moelis & Company

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Moelis & Company by 1.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,743 shares of the asset manager’s stock worth $1,066,000 after purchasing an additional 415 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Moelis & Company by 6.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,438 shares of the asset manager’s stock valued at $564,000 after buying an additional 761 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Moelis & Company by 121.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,221 shares of the asset manager’s stock valued at $191,000 after buying an additional 2,314 shares in the last quarter. Credit Suisse AG lifted its holdings in Moelis & Company by 1.1% during the 1st quarter. Credit Suisse AG now owns 54,023 shares of the asset manager’s stock valued at $2,077,000 after buying an additional 584 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Moelis & Company by 168.0% during the 1st quarter. SG Americas Securities LLC now owns 17,391 shares of the asset manager’s stock valued at $669,000 after buying an additional 10,903 shares in the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

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. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.