Moelis & Company (NYSE:MC) Price Target Lowered to $58.00 at UBS Group

Moelis & Company (NYSE:MC) had its price target dropped by stock analysts at UBS Group from $59.00 to $58.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. UBS Group’s price objective suggests a potential downside of 5.53% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. raised their price target on Moelis & Company from $80.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. The Goldman Sachs Group dropped their price target on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings restated a “hold (c)” rating on shares of Moelis & Company in a research note on Monday, December 29th. Bank of America initiated coverage on Moelis & Company in a research note on Monday, January 26th. They issued a “neutral” rating and a $81.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of Moelis & Company from $89.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Moelis & Company currently has a consensus rating of “Hold” and a consensus target price of $72.67.

Moelis & Company Stock Up 6.8%

Shares of NYSE MC traded up $3.89 during trading on Wednesday, reaching $61.39. 2,021,322 shares of the company traded hands, compared to its average volume of 1,231,994. The firm has a 50 day simple moving average of $60.82 and a 200-day simple moving average of $66.04. The stock has a market capitalization of $4.77 billion, a PE ratio of 20.88, a P/E/G ratio of 0.60 and a beta of 1.87. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $78.22.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.37. The firm had revenue of $487.94 million for the quarter, compared to the consensus estimate of $430.17 million. Moelis & Company had a net margin of 15.36% and a return on equity of 41.67%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 EPS. As a group, research analysts predict that Moelis & Company will post 2.97 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Osamu R. Watanabe sold 2,765 shares of Moelis & Company stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $62.23, for a total transaction of $172,065.95. Following the transaction, the general counsel directly owned 4,981 shares in the company, valued at approximately $309,967.63. The trade was a 35.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Moelis & Company

Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its position in shares of Moelis & Company by 541.5% in the fourth quarter. Hsbc Holdings PLC now owns 19,726 shares of the asset manager’s stock valued at $1,364,000 after acquiring an additional 16,651 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Moelis & Company by 11.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 5,512 shares of the asset manager’s stock valued at $379,000 after acquiring an additional 548 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Moelis & Company by 43.6% in the fourth quarter. Corient Private Wealth LLC now owns 10,486 shares of the asset manager’s stock valued at $721,000 after acquiring an additional 3,182 shares in the last quarter. DGS Capital Management LLC lifted its position in shares of Moelis & Company by 50.8% in the fourth quarter. DGS Capital Management LLC now owns 6,912 shares of the asset manager’s stock valued at $475,000 after acquiring an additional 2,329 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Moelis & Company by 18.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,962 shares of the asset manager’s stock valued at $1,028,000 after acquiring an additional 2,287 shares in the last quarter. 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.