Moelis & Co (NYSE:MC) had its target price reduced by Buckingham Research from $53.00 to $44.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the asset manager’s stock.
MC has been the topic of a number of other reports. Bank of America set a $7.00 price objective on shares of Deutsche Bank and gave the stock a sell rating in a report on Thursday, April 11th. ValuEngine downgraded shares of Whiting USA Trust II from a hold rating to a sell rating in a report on Tuesday, May 7th. Zacks Investment Research raised shares of Hope Bancorp from a sell rating to a hold rating in a report on Wednesday, April 17th. Morgan Stanley set a $36.00 price target on shares of ArcBest and gave the stock a hold rating in a report on Monday, July 8th. Finally, JMP Securities boosted their price target on shares of Stifel Financial from $61.00 to $65.00 and gave the stock a market outperform rating in a report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Moelis & Co has a consensus rating of Hold and a consensus target price of $50.56.
MC opened at $34.39 on Thursday. The company has a quick ratio of 10.48, a current ratio of 10.48 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.05 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.97. The business’s fifty day moving average price is $33.66. Moelis & Co has a 1 year low of $31.64 and a 1 year high of $65.94.
Moelis & Co (NYSE:MC) last posted its quarterly earnings data on Tuesday, April 30th. The asset manager reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. The firm had revenue of $137.78 million for the quarter, compared to the consensus estimate of $141.54 million. Moelis & Co had a net margin of 15.04% and a return on equity of 49.19%. The business’s revenue for the quarter was down 37.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. As a group, sell-side analysts forecast that Moelis & Co will post 2.29 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Friday, May 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend was Thursday, May 9th. Moelis & Co’s dividend payout ratio (DPR) is currently 66.67%.
In related news, CEO Kenneth Moelis sold 84,708 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $3,176,550.00. Following the transaction, the chief executive officer now directly owns 171,426 shares of the company’s stock, valued at approximately $6,428,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Raich sold 73,361 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $2,751,037.50. Following the completion of the transaction, the insider now directly owns 146,724 shares in the company, valued at $5,502,150. The disclosure for this sale can be found here. Insiders sold a total of 227,181 shares of company stock worth $8,350,975 over the last three months. 19.67% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Sageworth Trust Co bought a new stake in Moelis & Co in the 1st quarter valued at about $28,000. Hilton Capital Management LLC bought a new stake in Moelis & Co in the 1st quarter valued at about $101,000. NumerixS Investment Technologies Inc bought a new stake in Moelis & Co in the 4th quarter valued at about $113,000. Great West Life Assurance Co. Can raised its stake in Moelis & Co by 44.7% in the 4th quarter. Great West Life Assurance Co. Can now owns 5,763 shares of the asset manager’s stock valued at $190,000 after acquiring an additional 1,779 shares during the period. Finally, GYL Financial Synergies LLC bought a new stake in Moelis & Co in the 1st quarter valued at about $204,000. Institutional investors and hedge funds own 74.66% of the company’s stock.
About Moelis & Co
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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