Moelis & Company (NYSE:MC) PT Raised to $47.00

Moelis & Company (NYSE:MC) had its target price raised by UBS Group from $45.00 to $47.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “sell” rating on the asset manager’s stock. UBS Group’s price objective points to a potential downside of 5.53% from the stock’s current price.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and increased their price target for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their price target on shares of Moelis & Company from $46.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 price objective (down from $58.00) on shares of Moelis & Company in a research note on Thursday. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, Moelis & Company presently has an average rating of “Hold” and a consensus price target of $50.80.

Moelis & Company Stock Performance

NYSE MC opened at $49.75 on Thursday. The stock’s 50 day simple moving average is $54.07 and its 200 day simple moving average is $51.54. Moelis & Company has a one year low of $33.87 and a one year high of $58.67.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. The company had revenue of $217.49 million during 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 firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. As a group, equities research analysts forecast that Moelis & Company will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.59, for a total value of $55,733.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Christopher Callesano sold 1,040 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.59, for a total transaction of $55,733.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph Simon sold 8,149 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total transaction of $428,637.40. Following the completion of the sale, the chief financial officer now directly owns 8,573 shares in the company, valued at $450,939.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 375,185 shares of company stock valued at $20,130,225. 6.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC lifted its position in Moelis & Company by 26.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 96,568 shares of the asset manager’s stock worth $5,420,000 after buying an additional 20,413 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Moelis & Company by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 792,729 shares of the asset manager’s stock valued at $35,776,000 after purchasing an additional 42,424 shares in the last quarter. Teza Capital Management LLC increased its position in shares of Moelis & Company by 75.7% during the 3rd quarter. Teza Capital Management LLC now owns 32,538 shares of the asset manager’s stock worth $1,468,000 after purchasing an additional 14,016 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Moelis & Company by 3.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,111,200 shares of the asset manager’s stock worth $50,144,000 after purchasing an additional 34,740 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Moelis & Company by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,787,483 shares of the asset manager’s stock valued at $351,449,000 after buying an additional 28,446 shares during the last quarter. 91.53% of the stock is currently owned by 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, as well as strategic, capital structure, and private funds advisory.