Keefe, Bruyette & Woods Reiterates “Market Perform” Rating for Moelis & Company (NYSE:MC)

Moelis & Company (NYSE:MC)‘s stock had its “market perform” rating reiterated by analysts at Keefe, Bruyette & Woods in a report issued on Thursday, Benzinga reports. They presently have a $54.00 target price on the asset manager’s stock, down from their prior target price of $58.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 8.54% from the company’s previous close.

Other analysts have also recently issued research reports about the company. The Goldman Sachs Group raised Moelis & Company from a “sell” rating to a “neutral” rating and increased their target price for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. UBS Group cut their price objective on shares of Moelis & Company from $46.00 to $45.00 and set a “sell” rating on the stock in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Moelis & Company has an average rating of “Hold” and an average price target of $50.80.

Moelis & Company Trading Down 1.0 %

NYSE:MC opened at $49.75 on Thursday. Moelis & Company has a twelve month low of $33.87 and a twelve month high of $58.67. The stock has a fifty day simple moving average of $54.07 and a 200-day simple moving average of $51.54.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11. The firm had revenue of $217.49 million for the quarter, compared to analyst estimates of $219.30 million. Moelis & Company had a negative return on equity of 0.13% and a negative net margin of 1.33%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. Research analysts forecast that Moelis & Company will post 1.47 earnings per share for the current fiscal year.

Insider Transactions at Moelis & Company

In related news, CEO Kenneth Moelis sold 75,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $54.11, for a total transaction of $4,058,250.00. Following the completion of the sale, the chief executive officer now owns 86,441 shares of the company’s stock, valued at approximately $4,677,322.51. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Christopher Callesano sold 1,040 shares of Moelis & Company stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.59, for a total transaction of $55,733.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kenneth Moelis sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $54.11, for a total transaction of $4,058,250.00. Following the transaction, the chief executive officer now directly owns 86,441 shares in the company, valued at approximately $4,677,322.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 375,185 shares of company stock valued at $20,130,225. Corporate insiders own 6.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Verity & Verity LLC acquired a new position in Moelis & Company during the first quarter worth $284,000. Assenagon Asset Management S.A. acquired a new position in Moelis & Company during the 1st quarter worth about $1,492,000. Wesbanco Bank Inc. purchased a new position in Moelis & Company during the 1st quarter valued at about $557,000. KLR Investment Advisors LLC grew its position in Moelis & Company by 27.9% in the 1st quarter. KLR Investment Advisors LLC now owns 5,966 shares of the asset manager’s stock valued at $318,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Wasatch Advisors LP lifted its holdings in Moelis & Company by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock worth $194,020,000 after buying an additional 159,797 shares in the last quarter. Hedge funds and other 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.