Seaport Res Ptn Analysts Lift Earnings Estimates for Moelis & Company (NYSE:MC)

Moelis & Company (NYSE:MC) – Stock analysts at Seaport Res Ptn boosted their Q1 2024 earnings per share estimates for shares of Moelis & Company in a report issued on Wednesday, April 10th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will post earnings of $0.17 per share for the quarter, up from their previous estimate of $0.07. The consensus estimate for Moelis & Company’s current full-year earnings is $1.50 per share. Seaport Res Ptn also issued estimates for Moelis & Company’s Q2 2024 earnings at $0.11 EPS and Q3 2024 earnings at $0.29 EPS.

MC has been the subject of several other reports. StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $56.00 target price on shares of Moelis & Company in a research note on Monday, January 29th. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and raised their target price for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.80.

Moelis & Company Trading Down 1.3 %

Shares of MC opened at $51.08 on Monday. Moelis & Company has a twelve month low of $33.87 and a twelve month high of $58.67. The firm has a market capitalization of $3.64 billion, a P/E ratio of -141.89 and a beta of 1.35. The stock’s fifty day simple moving average is $54.63 and its 200 day simple moving average is $51.16.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, February 7th. The asset manager reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. Moelis & Company had a negative return on equity of 3.82% and a negative net margin of 2.89%. The firm had revenue of $214.90 million for the quarter, compared to analyst estimates of $197.98 million. During the same quarter in the prior year, the company earned $0.33 EPS. Moelis & Company’s revenue was up 3.7% on a year-over-year basis.

Institutional Investors Weigh In On Moelis & Company

A number of hedge funds have recently bought and sold shares of the company. First Capital Advisors Group LLC. acquired a new position in Moelis & Company in the second quarter worth about $26,000. Mendota Financial Group LLC acquired a new stake in shares of Moelis & Company during the fourth quarter worth approximately $34,000. GAMMA Investing LLC acquired a new stake in shares of Moelis & Company during the fourth quarter worth approximately $34,000. Tower Research Capital LLC TRC increased its holdings in shares of Moelis & Company by 380.1% during the first quarter. Tower Research Capital LLC TRC now owns 1,378 shares of the asset manager’s stock worth $53,000 after buying an additional 1,091 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Moelis & Company by 230.3% during the first quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock worth $72,000 after buying an additional 1,073 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Moelis & Company

In other news, insider Christopher Callesano sold 1,040 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.59, for a total value of $55,733.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Joseph Simon sold 10,720 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $54.70, for a total value of $586,384.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Callesano sold 1,040 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.59, for a total transaction of $55,733.60. The disclosure for this sale can be found here. Insiders have sold a total of 375,185 shares of company stock valued at $20,130,225 in the last three months. 6.96% of the stock is currently owned by company insiders.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend was Friday, February 16th. Moelis & Company’s dividend payout ratio (DPR) is currently -666.67%.

Moelis & Company Company Profile

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.