Moelis & Company (NYSE:MC) Raised to Overweight at Morgan Stanley

Moelis & Company (NYSE:MC - Get Free Report) was upgraded by stock analysts at Morgan Stanley from an "underweight" rating to an "overweight" rating in a report released on Monday,Finviz reports. The brokerage presently has a $68.00 price objective on the asset manager's stock. Morgan Stanley's price target suggests a potential upside of 20.12% from the stock's current price.

A number of other brokerages have also recently weighed in on MC. The Goldman Sachs Group lifted their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. 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 research note on Thursday, April 24th. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a report on Thursday, April 24th. Wells Fargo & Company decreased their target price on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered Moelis & Company from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.17.

Moelis & Company Trading Up 0.2%

Moelis & Company stock opened at $56.61 on Monday. The firm has a market capitalization of $4.44 billion, a P/E ratio of 25.97 and a beta of 1.64. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89. The business has a 50-day moving average of $55.92 and a 200-day moving average of $64.64.

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

Institutional Trading of Moelis & Company

Hedge funds and other institutional investors have recently modified their holdings of the company. Voya Investment Management LLC grew its holdings in shares of Moelis & Company by 5.9% during the first quarter. Voya Investment Management LLC now owns 343,099 shares of the asset manager's stock worth $20,023,000 after buying an additional 19,146 shares in the last quarter. eCIO Inc. bought a new stake in Moelis & Company in the 1st quarter valued at approximately $50,000. Invst LLC acquired a new position in Moelis & Company during the 1st quarter worth approximately $688,000. Strs Ohio acquired a new position in Moelis & Company during the 1st quarter worth approximately $1,191,000. Finally, Intech Investment Management LLC grew its stake in shares of Moelis & Company by 61.6% during the 1st quarter. Intech Investment Management LLC now owns 41,063 shares of the asset manager's stock worth $2,396,000 after acquiring an additional 15,645 shares in the last quarter. 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.

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