UBS Group Initiates Coverage on Moelis & Company (NYSE:MC)

UBS Group assumed coverage on shares of Moelis & Company (NYSE:MC) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $70.00 price target on the asset manager’s stock. UBS Group’s price objective points to a potential downside of 1.72% from the company’s previous close.

MC has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft started coverage on Moelis & Company in a research note on Thursday, October 9th. They issued a “buy” rating and a $80.00 price target on the stock. Seaport Res Ptn upgraded Moelis & Company from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Moelis & Company from $80.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. BMO Capital Markets initiated coverage on Moelis & Company in a report on Friday, October 3rd. They issued a “market perform” rating and a $74.00 price target on the stock. Finally, Zacks Research lowered shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $71.38.

Moelis & Company Price Performance

Shares of NYSE MC traded up $0.67 during mid-day trading on Thursday, hitting $71.22. The company had a trading volume of 141,254 shares, compared to its average volume of 876,435. The company has a market capitalization of $5.58 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.74 and a beta of 1.90. The business’s 50-day simple moving average is $65.67 and its 200 day simple moving average is $66.97. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89.

Moelis & Company (NYSE:MC) last released its quarterly earnings data on Wednesday, October 29th. The asset manager reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. Moelis & Company had a return on equity of 45.62% and a net margin of 15.98%.The business had revenue of $356.89 million for the quarter, compared to the consensus estimate of $336.14 million. During the same quarter in the prior year, the business posted $0.22 EPS. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. On average, analysts expect that Moelis & Company will post 2.97 EPS for the current year.

Institutional Investors Weigh In On Moelis & Company

A number of institutional investors and hedge funds have recently modified their holdings of MC. Bessemer Group Inc. lifted its stake in shares of Moelis & Company by 89.8% during the 3rd quarter. Bessemer Group Inc. now owns 389 shares of the asset manager’s stock worth $28,000 after buying an additional 184 shares during the last quarter. Allworth Financial LP lifted its position 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 purchasing an additional 254 shares during the period. EverSource Wealth Advisors LLC increased its stake in Moelis & Company by 89.5% in the second quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 282 shares during the last quarter. Quarry LP raised its stake in Moelis & Company by 1,811.1% during the third quarter. Quarry LP now owns 516 shares of the asset manager’s stock worth $37,000 after acquiring an additional 489 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Moelis & Company by 103.0% in the 3rd quarter. Global Retirement Partners LLC now owns 544 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 276 shares during the last quarter. 91.53% of the stock is owned by institutional investors.

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.