Moelis & Company (MC) Stock Rating Lowered by Zacks Investment Research
Moelis & Company (NYSE:MC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “
Other equities analysts have also recently issued reports about the company. BidaskClub cut Moelis & from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Bank of America Corporation boosted their target price on Moelis & from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. JMP Securities boosted their target price on Moelis & from $42.00 to $44.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 25th. UBS AG reissued a “neutral” rating and set a $42.00 target price (up from $40.00) on shares of Moelis & in a research note on Tuesday, July 25th. Finally, Morgan Stanley boosted their target price on Moelis & from $39.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $39.22.
Shares of Moelis & (NYSE:MC) traded down 1.682% during mid-day trading on Wednesday, hitting $42.375. 75,446 shares of the stock traded hands. The firm’s 50-day moving average is $40.46 and its 200-day moving average is $38.67. Moelis & has a 52 week low of $23.60 and a 52 week high of $44.85. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 19.600 and a beta of 1.90.
Moelis & (NYSE:MC) last posted its earnings results on Monday, July 24th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.15. Moelis & had a return on equity of 52.98% and a net margin of 8.50%. The firm had revenue of $172.10 million for the quarter, compared to analysts’ expectations of $156.85 million. During the same period in the previous year, the firm earned $0.35 earnings per share. The business’s revenue was up 30.7% compared to the same quarter last year. On average, analysts forecast that Moelis & will post $2.24 earnings per share for the current year.
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Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its stake in Moelis & by 150.1% in the first quarter. Goldman Sachs Group Inc. now owns 136,424 shares of the asset manager’s stock worth $5,252,000 after purchasing an additional 81,877 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new stake in Moelis & in the second quarter worth $875,000. Principal Financial Group Inc. grew its stake in Moelis & by 76.7% in the second quarter. Principal Financial Group Inc. now owns 492,290 shares of the asset manager’s stock worth $19,125,000 after purchasing an additional 213,740 shares during the period. Prudential Financial Inc. grew its stake in Moelis & by 380.7% in the first quarter. Prudential Financial Inc. now owns 138,500 shares of the asset manager’s stock worth $5,332,000 after purchasing an additional 109,688 shares during the period. Finally, Morgan Stanley grew its stake in Moelis & by 17.4% in the first quarter. Morgan Stanley now owns 319,532 shares of the asset manager’s stock worth $12,302,000 after purchasing an additional 47,402 shares during the period. 90.80% of the stock is currently owned by institutional investors.
About Moelis &
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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