Morgan Stanley Cuts Moelis & Company (NYSE:MC) Price Target to $83.00
by Renee Jackson · The Cerbat GemMoelis & Company (NYSE:MC – Get Free Report) had its target price cut by research analysts at Morgan Stanley from $90.00 to $83.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s price objective indicates a potential upside of 31.54% from the company’s previous close.
Several other research firms have also recently weighed in on MC. The Goldman Sachs Group cut their target price on shares of Moelis & Company from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, April 1st. UBS Group cut their target price on shares of Moelis & Company from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Moelis & Company from $80.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Bank of America started coverage on shares of Moelis & Company in a research note on Monday, January 26th. They set a “neutral” rating and a $81.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Moelis & Company in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $71.89.
View Our Latest Report on Moelis & Company
Moelis & Company Stock Performance
Shares of NYSE MC traded up $1.61 during midday trading on Thursday, reaching $63.10. The stock had a trading volume of 366,893 shares, compared to its average volume of 1,229,300. The stock has a 50-day moving average of $60.59 and a 200-day moving average of $66.01. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 0.60 and a beta of 1.87. Moelis & Company has a 12-month low of $48.73 and a 12-month high of $78.22.
Moelis & Company (NYSE:MC – Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The asset manager reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.37. The firm had revenue of $487.94 million during the quarter, compared to analysts’ expectations of $430.17 million. Moelis & Company had a net margin of 15.36% and a return on equity of 41.67%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 earnings per share. As a group, analysts forecast that Moelis & Company will post 2.97 EPS for the current fiscal year.
Insider Buying and Selling
In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 2,765 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $62.23, for a total transaction of $172,065.95. Following the transaction, the general counsel owned 4,981 shares of the company’s stock, valued at approximately $309,967.63. This trade represents a 35.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.40% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in MC. V Square Quantitative Management LLC purchased a new position in shares of Moelis & Company in the 4th quarter worth approximately $27,000. Bessemer Group Inc. boosted its holdings in Moelis & Company by 89.8% during the third quarter. Bessemer Group Inc. now owns 389 shares of the asset manager’s stock worth $28,000 after buying an additional 184 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Moelis & Company by 64.4% during the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock worth $29,000 after buying an additional 163 shares in the last quarter. Allworth Financial LP boosted its holdings in Moelis & Company by 153.9% during the third quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after buying an additional 254 shares in the last quarter. Finally, eCIO Inc. purchased a new stake in Moelis & Company during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.
Moelis & Company Company Profile
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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.