Moelis & Co. (MC) Rating Lowered to Strong Sell at Zacks Investment Research
Moelis & Co. (NYSE:MC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “
Separately, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Moelis & Co. in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $31.00.
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Moelis & Co. (NYSE:MC) opened at 25.80 on Tuesday. The firm has a market capitalization of $531.45 million, a price-to-earnings ratio of 15.37 and a beta of 1.73. Moelis & Co. has a 12-month low of $21.91 and a 12-month high of $31.84. The company’s 50 day moving average price is $26.36 and its 200-day moving average price is $26.25.
Moelis & Co. (NYSE:MC) last released its earnings results on Wednesday, August 3rd. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. Moelis & Co. had a return on equity of 35.37% and a net margin of 6.01%. The business earned $131.70 million during the quarter, compared to analysts’ expectations of $131.44 million. During the same quarter last year, the firm posted $0.37 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Moelis & Co. will post $1.62 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in Moelis & Co. by 86.3% in the first quarter. Legal & General Group Plc now owns 3,519 shares of the company’s stock worth $100,000 after buying an additional 1,630 shares in the last quarter. BlackRock Group LTD raised its position in Moelis & Co. by 222.1% in the first quarter. BlackRock Group LTD now owns 7,353 shares of the company’s stock worth $207,000 after buying an additional 5,070 shares in the last quarter. BlackRock Advisors LLC raised its position in Moelis & Co. by 10.8% in the second quarter. BlackRock Advisors LLC now owns 9,460 shares of the company’s stock worth $213,000 after buying an additional 920 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Moelis & Co. during the second quarter worth $222,000. Finally, American International Group Inc. raised its position in Moelis & Co. by 3.8% in the second quarter. American International Group Inc. now owns 10,699 shares of the company’s stock worth $241,000 after buying an additional 396 shares in the last quarter. Institutional investors own 84.45% of the company’s stock.
About Moelis & Co.
Moelis & Company is an investment banking advisory firm. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. The Company advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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