Moelis & Co (MC) Lowered to Hold at Zacks Investment Research

Moelis & Co (NYSE:MC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

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. “

Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of Moelis & Co from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. JMP Securities increased their target price on shares of Moelis & Co from $44.00 to $47.00 and gave the company a “market outperform” rating in a research note on Thursday, October 26th. UBS Group increased their target price on shares of Moelis & Co from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. Finally, Morgan Stanley increased their target price on shares of Moelis & Co from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $46.67.

Moelis & Co (NYSE:MC) remained flat at $$48.55 during trading on Friday. 237,147 shares of the company’s stock were exchanged, compared to its average volume of 270,149. The company has a market cap of $2,590.00, a PE ratio of 23.23, a P/E/G ratio of 2.05 and a beta of 1.91. Moelis & Co has a twelve month low of $32.55 and a twelve month high of $50.40.

Moelis & Co (NYSE:MC) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.15. The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $168.51 million. Moelis & Co had a net margin of 9.62% and a return on equity of 52.76%. Moelis & Co’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. equities research analysts predict that Moelis & Co will post 2.42 EPS for the current fiscal year.

In other news, Chairman Kenneth Moelis sold 40,800 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $42.66, for a total value of $1,740,528.00. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 80,956 shares of company stock worth $3,451,515. Insiders own 52.64% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC purchased a new position in Moelis & Co in the 3rd quarter worth about $392,000. Public Employees Retirement System of Ohio increased its stake in Moelis & Co by 18.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,750 shares of the asset manager’s stock worth $1,109,000 after buying an additional 4,000 shares during the period. Wealthsource Partners LLC purchased a new position in Moelis & Co in the 3rd quarter worth about $271,000. Dean Investment Associates LLC purchased a new position in Moelis & Co in the 3rd quarter worth about $4,034,000. Finally, Neuberger Berman Group LLC increased its stake in Moelis & Co by 9.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 89,416 shares of the asset manager’s stock worth $3,849,000 after buying an additional 7,726 shares during the period. 56.70% of the stock is currently owned by institutional investors.

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Moelis & Co Company Profile

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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