Moelis & Company (NYSE:MC) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Moelis & Company (NYSE:MC - Get Free Report) had its target price increased by stock analysts at Wells Fargo & Company from $50.00 to $64.00 in a report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's target price indicates a potential downside of 9.64% from the stock's previous close.

A number of other research firms also recently commented on MC. Morgan Stanley raised Moelis & Company from an "underweight" rating to an "overweight" rating and raised their target price for the company from $42.00 to $68.00 in a report on Monday, June 23rd. Wall Street Zen cut shares of Moelis & Company from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. The Goldman Sachs Group lifted their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. decreased their price target on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Moelis & Company has a consensus rating of "Hold" and a consensus target price of $66.00.

Moelis & Company Stock Up 2.0%

NYSE MC traded up $1.36 during trading hours on Friday, hitting $70.83. 902,856 shares of the stock were exchanged, compared to its average volume of 811,267. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 32.49 and a beta of 1.64. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89. The stock has a 50-day moving average of $59.67 and a 200 day moving average of $63.65.

Moelis & Company (NYSE:MC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $306.59 million for the quarter, compared to analysts' expectations of $309.67 million. Moelis & Company had a return on equity of 40.89% and a net margin of 13.22%. The firm's quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. On average, equities research analysts expect that Moelis & Company will post 2.97 earnings per share for the current year.

Institutional Investors Weigh In On Moelis & Company

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in Moelis & Company by 38.9% in the 1st quarter. GAMMA Investing LLC now owns 1,632 shares of the asset manager's stock valued at $95,000 after acquiring an additional 457 shares during the last quarter. Diversify Wealth Management LLC grew its position in shares of Moelis & Company by 29.4% in the first quarter. Diversify Wealth Management LLC now owns 76,298 shares of the asset manager's stock valued at $4,067,000 after purchasing an additional 17,322 shares during the period. Pinnacle Financial Partners Inc acquired a new position in Moelis & Company in the first quarter valued at $334,000. Wealth Enhancement Advisory Services LLC grew its holdings in Moelis & Company by 64.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 253,658 shares of the asset manager's stock valued at $14,803,000 after buying an additional 99,316 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Moelis & Company during the 1st quarter valued at about $3,331,000. Institutional investors and hedge funds 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.