Moelis & Company (NYSE:MC – Free Report) had its price objective decreased by Morgan Stanley from $85.00 to $77.00 in a research report sent to investors on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the asset manager’s stock.
Other research analysts also recently issued reports about the stock. The Goldman Sachs Group cut their price target on shares of Moelis & Company from $71.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, October 1st. Weiss Ratings raised shares of Moelis & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Wall Street Zen raised Moelis & Company from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Zacks Research upgraded Moelis & Company from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Keefe, Bruyette & Woods upgraded Moelis & Company from a “hold” rating to a “moderate buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and an average target price of $71.00.
Check Out Our Latest Stock Report on MC
Moelis & Company Stock Up 1.5%
Moelis & Company (NYSE:MC – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $409.39 million during the quarter, compared to analyst estimates of $387.27 million. Moelis & Company had a net margin of 14.50% and a return on equity of 39.59%. Moelis & Company’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.53 earnings per share. Analysts expect that Moelis & Company will post 3.01 earnings per share for the current fiscal year.
Moelis & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Monday, August 10th were given a dividend of $0.65 per share. The ex-dividend date was Monday, August 10th. This represents a $2.60 annualized dividend and a dividend yield of 4.6%. Moelis & Company’s dividend payout ratio (DPR) is 90.59%.
Insiders Place Their Bets
In related news, General Counsel Osamu R. Watanabe sold 4,850 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $69.30, for a total value of $336,105.00. Following the transaction, the general counsel owned 131 shares of the company’s stock, valued at $9,078.30. This represents a 97.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Shropshire sold 1,881 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $69.06, for a total value of $129,901.86. Following the sale, the director owned 7,633 shares in the company, valued at $527,134.98. The trade was a 19.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.29% of the company’s stock.
Hedge Funds Weigh In On Moelis & Company
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wasatch Advisors LP raised its holdings in shares of Moelis & Company by 9.0% during the 1st quarter. Wasatch Advisors LP now owns 3,742,624 shares of the asset manager’s stock valued at $213,330,000 after buying an additional 310,001 shares in the last quarter. Madison Asset Management LLC boosted its stake in Moelis & Company by 45.6% in the first quarter. Madison Asset Management LLC now owns 1,773,735 shares of the asset manager’s stock worth $101,103,000 after buying an additional 555,557 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Moelis & Company by 5.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,277,774 shares of the asset manager’s stock valued at $72,825,000 after acquiring an additional 61,130 shares during the last quarter. Heard Capital LLC grew its position in Moelis & Company by 29.7% during the fourth quarter. Heard Capital LLC now owns 981,510 shares of the asset manager’s stock valued at $67,469,000 after acquiring an additional 224,970 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Moelis & Company by 0.9% during the first quarter. Bank of America Corp DE now owns 693,812 shares of the asset manager’s stock worth $39,547,000 after acquiring an additional 6,112 shares in the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.
Moelis & Company Company Profile
Moelis & Company (NYSE:MC) is an independent global investment bank that provides strategic and financial advisory services to corporations, financial sponsors, governments and other institutions. The firm advises clients on mergers and acquisitions, divestitures, recapitalizations, restructurings, liability management, capital raising and other complex financial transactions.
Moelis & Company serves clients across a range of industries, including technology, media and telecommunications; consumer and retail; energy and infrastructure; financial services; healthcare; industrials; and real estate.
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