Moelis & Company (NYSE:MC) Coverage Initiated at Bank of America

Investment analysts at Bank of America started coverage on shares of Moelis & Company (NYSE:MC) in a research report issued to clients and investors on Monday, MarketBeat reports. The firm set a “neutral” rating and a $81.00 price target on the asset manager’s stock. Bank of America‘s price target suggests a potential upside of 10.35% from the company’s previous close.

A number of other research firms also recently commented on MC. Morgan Stanley boosted their price target on shares of Moelis & Company from $86.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a research note on Monday, December 29th. UBS Group raised their price target on Moelis & Company from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. BMO Capital Markets started coverage on shares of Moelis & Company in a research note on Friday, October 3rd. They set a “market perform” rating and a $74.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Moelis & Company in a research note on Thursday, October 9th. They issued a “buy” rating and a $80.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company currently has a consensus rating of “Hold” and a consensus target price of $73.00.

Moelis & Company Stock Performance

Shares of NYSE MC opened at $73.40 on Monday. Moelis & Company has a one year low of $47.00 and a one year high of $82.89. The firm has a market capitalization of $5.75 billion, a P/E ratio of 24.55, a PEG ratio of 0.59 and a beta of 1.85. The company’s fifty day moving average is $70.25 and its two-hundred day moving average is $69.93.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.11. The firm had revenue of $356.89 million during the quarter, compared to the consensus estimate of $336.14 million. Moelis & Company had a net margin of 15.98% and a return on equity of 45.62%. The firm’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.22 EPS. On average, sell-side analysts forecast that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Moelis & Company

Large investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in Moelis & Company during the fourth quarter worth about $27,000. Bessemer Group Inc. lifted its position in Moelis & Company by 89.8% during the 3rd quarter. Bessemer Group Inc. now owns 389 shares of the asset manager’s stock worth $28,000 after acquiring an additional 184 shares during the period. Allworth Financial LP raised its position in Moelis & Company by 153.9% in the third quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock worth $30,000 after acquiring an additional 254 shares in the last quarter. eCIO Inc. purchased a new stake in shares of Moelis & Company in the 4th quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Moelis & Company by 89.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock worth $37,000 after purchasing an additional 282 shares during the period. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.