Moelis & Company (NYSE:MC) Given Consensus Rating of "Hold" by Brokerages

Moelis & Company (NYSE:MC) has received a consensus rating of "Hold" from eleven brokerages. Seven analysts rated it as hold, three as buy, and one as strong buy, with an average target price of $71.57. Recent reports include Keefe, Bruyette & Woods lowering their target from $80 to $78, while Morgan Stanley raised theirs from $74 to $90. The stock opened at $63.79, with a market cap of $5.01 billion and a PE ratio of 21.34. Moelis reported $0.68 EPS for the last quarter, exceeding estimates.

Shares of Moelis & Company (NYSE:MC - Get Free Report) have been given a consensus recommendation of "Hold" by the eleven ratings firms that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $71.5714.

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A number of analysts have issued reports on the company. Keefe, Bruyette & Woods cut their target price on Moelis & Company from $80.00 to $78.00 and set an "outperform" rating on the stock in a research report on Thursday, October 30th. Seaport Res Ptn upgraded Moelis & Company from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 30th. BMO Capital Markets began coverage on Moelis & Company in a research note on Friday, October 3rd. They set a "market perform" rating and a $74.00 target price on the stock. Morgan Stanley raised their target price on Moelis & Company from $74.00 to $90.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Moelis & Company in a research note on Thursday, October 9th. They set a "buy" rating and a $80.00 price target on the stock.

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Insider Transactions at Moelis & Company

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In related news, Director Kenneth Shropshire sold 2,615 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $72.52, for a total value of $189,639.80. Following the sale, the director owned 7,109 shares of the company's stock, valued at $515,544.68. This trade represents a 26.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Moelis & Company

Several hedge funds have recently added to or reduced their stakes in the stock. NewEdge Wealth LLC raised its holdings in shares of Moelis & Company by 3.2% in the third quarter. NewEdge Wealth LLC now owns 46,669 shares of the asset manager's stock valued at $3,328,000 after buying an additional 1,428 shares during the last quarter. First National Bank of Omaha acquired a new position in Moelis & Company in the 3rd quarter valued at about $3,192,000. Drucker Wealth 3.0 LLC raised its stake in Moelis & Company by 101.8% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 13,812 shares of the asset manager's stock valued at $985,000 after acquiring an additional 6,966 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Moelis & Company by 1.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 962,778 shares of the asset manager's stock valued at $68,665,000 after acquiring an additional 17,220 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Moelis & Company by 18.5% during the 3rd quarter. HighTower Advisors LLC now owns 1,256,324 shares of the asset manager's stock worth $89,601,000 after acquiring an additional 196,030 shares during the period. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

Moelis & Company Price Performance

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NYSE MC opened at $63.79 on Friday. The stock's 50 day simple moving average is $69.73 and its 200-day simple moving average is $65.64. The company has a market cap of $5.01 billion, a PE ratio of 21.34 and a beta of 1.80. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.11. The firm had revenue of $356.89 million for the quarter, compared to the consensus estimate of $336.14 million. Moelis & Company had a net margin of 15.98% and a return on equity of 47.11%. The company's revenue for the quarter was up 30.4% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. On average, equities research analysts anticipate that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Monday, November 10th will be paid a $0.65 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.60 annualized dividend and a dividend yield of 4.1%. Moelis & Company's payout ratio is 86.96%.

Moelis & Company Company Profile

(Get Free Report)

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.

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