Moelis & Company (NYSE:MC) Receives Average Rating of “Buy” from Brokerages
Moelis & Company (NYSE:MC) has received a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $39.25.
MC has been the subject of several recent analyst reports. Zacks Investment Research downgraded Moelis & from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Keefe, Bruyette & Woods raised Moelis & to a “hold” rating and set a $39.00 price target for the company in a report on Thursday, May 4th. ValuEngine raised Moelis & from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. Bank of America Corporation raised their price target on Moelis & from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. Finally, Morgan Stanley raised their price target on Moelis & from $39.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, July 25th.
In other Moelis & news, Chairman Kenneth Moelis sold 15,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $37.46, for a total transaction of $561,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 64.47% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of MC. State Street Corp boosted its position in Moelis & by 7.5% in the fourth quarter. State Street Corp now owns 325,602 shares of the asset manager’s stock valued at $11,038,000 after buying an additional 22,706 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Moelis & by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 300,208 shares of the asset manager’s stock valued at $10,177,000 after buying an additional 22,638 shares during the last quarter. FMR LLC boosted its position in Moelis & by 97.6% in the fourth quarter. FMR LLC now owns 185,900 shares of the asset manager’s stock valued at $6,302,000 after buying an additional 91,800 shares during the last quarter. Guggenheim Capital LLC boosted its position in Moelis & by 78.4% in the fourth quarter. Guggenheim Capital LLC now owns 27,287 shares of the asset manager’s stock valued at $925,000 after buying an additional 11,993 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in Moelis & by 87.8% in the fourth quarter. Teachers Advisors LLC now owns 99,339 shares of the asset manager’s stock valued at $3,368,000 after buying an additional 46,431 shares during the last quarter. Hedge funds and other institutional investors own 90.89% of the company’s stock.
Moelis & (NYSE:MC) opened at 39.95 on Tuesday. Moelis & has a 12 month low of $23.60 and a 12 month high of $44.85. The company’s 50-day moving average is $39.40 and its 200-day moving average is $37.44. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 17.86 and a beta of 1.87.
Moelis & (NYSE:MC) last released its quarterly earnings data on Monday, July 24th. The asset manager reported $0.66 EPS for the quarter, beating the consensus estimate of $0.51 by $0.15. The company had revenue of $172.10 million during the quarter, compared to the consensus estimate of $156.85 million. Moelis & had a return on equity of 52.98% and a net margin of 8.50%. The firm’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, equities research analysts anticipate that Moelis & will post $2.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Tuesday, August 1st. Moelis &’s dividend payout ratio is 74.00%.
About Moelis &
Moelis & Company is an investment banking advisory company. 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. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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