Moelis & Company (NYSE:MC) Sees Strong Trading Volume

Shares of Moelis & Company (NYSE:MCGet Rating) saw an uptick in trading volume on Friday . 26,702 shares changed hands during trading, a decline of 94% from the previous session’s volume of 431,804 shares.The stock last traded at $34.13 and had previously closed at $37.04.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MC shares. Morgan Stanley cut shares of Moelis & Company from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $53.00 to $36.00 in a report on Monday, July 18th. Piper Sandler cut their price objective on Moelis & Company from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, July 8th. Wolfe Research downgraded Moelis & Company from a “peer perform” rating to an “underperform” rating and set a $42.00 target price on the stock. in a report on Monday, July 11th. Finally, UBS Group cut Moelis & Company from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $43.00 to $35.00 in a research report on Friday. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Moelis & Company presently has an average rating of “Hold” and an average price target of $43.33.

Moelis & Company Trading Down 7.3 %

The firm has a 50 day moving average price of $43.13 and a 200 day moving average price of $43.56. The stock has a market capitalization of $2.36 billion, a PE ratio of 7.93 and a beta of 1.29.

Moelis & Company (NYSE:MCGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.16. Moelis & Company had a return on equity of 76.91% and a net margin of 22.19%. The business had revenue of $242.52 million during the quarter, compared to analyst estimates of $199.79 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. Moelis & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, equities research analysts expect that Moelis & Company will post 2.75 EPS for the current year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Monday, August 8th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 6.99%. The ex-dividend date was Friday, August 5th. Moelis & Company’s payout ratio is 51.39%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. HM Payson & Co. purchased a new position in shares of Moelis & Company in the first quarter valued at about $44,000. First Horizon Advisors Inc. bought a new position in Moelis & Company in the 2nd quarter worth approximately $40,000. Covestor Ltd grew its holdings in Moelis & Company by 230.3% during the 1st quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock valued at $72,000 after buying an additional 1,073 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Moelis & Company during the second quarter valued at approximately $91,000. Finally, City State Bank purchased a new position in shares of Moelis & Company in the fourth quarter worth $141,000. Institutional investors own 90.87% of the company’s stock.

Moelis & Company Company Profile

(Get Rating)

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. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.

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