Moelis & Co. (MC) Lowered to Hold at Sandler O’Neill
Moelis & Co. (NYSE:MC) was downgraded by Sandler O’Neill from a “buy” rating to a “hold” rating in a research report issued on Thursday.
Several other equities research analysts also recently weighed in on MC. Credit Suisse Group AG reissued a “hold” rating on shares of Moelis & Co. in a research report on Tuesday, June 28th. Zacks Investment Research raised shares of Moelis & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $31.00.
Moelis & Co. (NYSE:MC) traded down 3.22% on Thursday, reaching $24.05. 8,147 shares of the company traded hands. Moelis & Co. has a 12 month low of $21.91 and a 12 month high of $31.84. The company has a 50-day moving average price of $26.27 and a 200-day moving average price of $26.23. The company has a market capitalization of $495.41 million, a P/E ratio of 14.32 and a beta of 1.73.
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Moelis & Co. (NYSE:MC) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.06. Moelis & Co. had a net margin of 6.01% and a return on equity of 35.37%. The firm had revenue of $131.70 million for the quarter, compared to the consensus estimate of $131.44 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Moelis & Co. will post $1.62 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in MC. Royce & Associates LP increased its stake in Moelis & Co. by 9.8% in the second quarter. Royce & Associates LP now owns 2,015,571 shares of the company’s stock worth $45,350,000 after buying an additional 179,115 shares during the period. Vanguard Group Inc. increased its stake in Moelis & Co. by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,341,785 shares of the company’s stock worth $30,190,000 after buying an additional 61,042 shares during the period. JPMorgan Chase & Co. increased its stake in Moelis & Co. by 9.3% in the second quarter. JPMorgan Chase & Co. now owns 1,175,914 shares of the company’s stock worth $26,458,000 after buying an additional 99,629 shares during the period. Lord Abbett & CO. LLC increased its stake in Moelis & Co. by 0.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,052,774 shares of the company’s stock worth $23,687,000 after buying an additional 6,268 shares during the period. Finally, BlackRock Fund Advisors increased its stake in Moelis & Co. by 2.7% in the second quarter. BlackRock Fund Advisors now owns 493,953 shares of the company’s stock worth $11,114,000 after buying an additional 13,098 shares during the period. 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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