Moelis & Company (NYSE:MC) Given New $64.00 Price Target at Wells Fargo & Company

Moelis & Company (NYSE:MC - Get Free Report) had its target price increased by analysts at Wells Fargo & Company from $50.00 to $64.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's price objective points to a potential downside of 7.81% from the company's previous close.

MC has been the topic of several other reports. JPMorgan Chase & Co. dropped their price objective on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group upped their price objective on Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Wall Street Zen lowered Moelis & Company from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. Finally, Morgan Stanley upgraded Moelis & Company from an "underweight" rating to an "overweight" rating and upped their price objective for the company from $42.00 to $68.00 in a report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $66.50.

Moelis & Company Stock Down 1.3%

Shares of MC traded down $0.95 during mid-day trading on Friday, hitting $69.42. The company had a trading volume of 715,082 shares, compared to its average volume of 810,899. The business's 50-day simple moving average is $59.67 and its 200-day simple moving average is $63.73. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The stock has a market cap of $5.45 billion, a PE ratio of 31.84 and a beta of 1.64.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC increased its holdings in shares of Moelis & Company by 52.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after acquiring an additional 137 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Moelis & Company in the 4th quarter worth approximately $31,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Moelis & Company by 1,551.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager's stock worth $38,000 after acquiring an additional 605 shares during the period. Versant Capital Management Inc lifted its position in shares of Moelis & Company by 1,460.8% during the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock worth $46,000 after buying an additional 745 shares during the period. Finally, eCIO Inc. bought a new position in shares of Moelis & Company during the 1st quarter worth approximately $50,000. 91.53% of the stock is owned by institutional investors and hedge funds.

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.