Moelis & Co (NYSE:MC) had its target price reduced by UBS Group from $62.00 to $59.00 in a research report released on Monday, www.benzinga.com reports. UBS Group currently has a neutral rating on the asset manager’s stock.
A number of other equities research analysts also recently commented on MC. Zacks Investment Research downgraded Moelis & Co from a hold rating to a sell rating in a report on Wednesday, June 27th. Bank of America raised their target price on Moelis & Co from $59.00 to $65.00 and gave the company a buy rating in a report on Monday, July 16th. Morgan Stanley downgraded Moelis & Co from an overweight rating to an equal weight rating and set a $63.00 target price for the company. in a report on Thursday, June 21st. They noted that the move was a valuation call. Finally, ValuEngine downgraded Moelis & Co from a buy rating to a hold rating in a report on Tuesday, September 4th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $64.50.
NYSE:MC opened at $53.04 on Monday. Moelis & Co has a 1-year low of $41.20 and a 1-year high of $67.65. The firm has a market capitalization of $3.08 billion, a P/E ratio of 23.16 and a beta of 1.68.
Moelis & Co (NYSE:MC) last posted its quarterly earnings data on Monday, July 23rd. The asset manager reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.21. Moelis & Co had a net margin of 8.14% and a return on equity of 50.56%. The firm had revenue of $220.41 million for the quarter, compared to analyst estimates of $183.64 million. During the same period last year, the firm posted $0.66 EPS. Moelis & Co’s quarterly revenue was up 28.0% on a year-over-year basis. As a group, equities analysts anticipate that Moelis & Co will post 2.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Thursday, August 2nd were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Wednesday, August 1st. Moelis & Co’s dividend payout ratio (DPR) is presently 82.10%.
In other news, Director Kenneth Shropshire sold 1,500 shares of Moelis & Co stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $57.85, for a total transaction of $86,775.00. Following the completion of the transaction, the director now owns 4,968 shares of the company’s stock, valued at approximately $287,398.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 29.91% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its stake in shares of Moelis & Co by 429.3% during the 2nd quarter. Advisory Services Network LLC now owns 1,588 shares of the asset manager’s stock worth $101,000 after buying an additional 1,288 shares during the last quarter. Massey Quick Simon & CO. LLC acquired a new position in Moelis & Co in the 2nd quarter valued at about $109,000. Northwest Bancshares Inc. acquired a new position in Moelis & Co in the 2nd quarter valued at about $212,000. Bayesian Capital Management LP acquired a new position in Moelis & Co in the 1st quarter valued at about $213,000. Finally, Point72 Asia Hong Kong Ltd acquired a new position in Moelis & Co in the 1st quarter valued at about $217,000. 69.31% of the stock is owned by institutional investors and hedge funds.
Moelis & Co Company Profile
Moelis & Company is a global investment bank. The firm provides services relating to mergers & acquisitions, recapitalization & restructuring, capital markets and financial institution advisory; private funds; shareholder defense and strategic alliances. The firm's expertise is into global energy; IPO advisory; technology, media, telecommunication sectors.
Recommended Story: What is the NASDAQ Stock Market?
Receive News & Ratings for Moelis & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Co and related companies with MarketBeat.com's FREE daily email newsletter.