Moelis & Company (NYSE:MC) Shares Break Above 50 Day Moving Average - What's Next?

Key Points

• Moelis & Company shares rose 3.7%, trading as high as $62.08 and breaking above the 50-day moving average of $60.08. The stock remains below its 200-day average of $64.02.
• Analyst sentiment is largely neutral: two analysts rate the stock a Buy and six rate it a Hold, resulting in an average “Hold” rating and an average price target of $68.83.
• Institutional investors own 91.53% of the company, while insiders own 6.29%; director Kenneth Shropshire recently sold 1,881 shares at an average price of $69.06.

Moelis & Company (NYSE:MC - Get Free Report) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $60.08 and traded as high as $62.08. Moelis & Company shares last traded at $60.7720, with a volume of 1,099,460 shares.

Analysts Set New Price Targets

A number of research firms have recently commented on MC. JPMorgan Chase & Co. dropped their price objective on Moelis & Company from $70.00 to $68.00 and set a "neutral" rating on the stock in a report on Tuesday, October 27th. Wall Street Zen upgraded Moelis & Company from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Zacks Research raised Moelis & Company from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. UBS Group raised Moelis & Company from a "sell" rating to a "neutral" rating and lowered their price target for the company from $60.00 to $59.00 in a report on Wednesday, October 7th. Finally, Morgan Stanley dropped their price target on shares of Moelis & Company from $85.00 to $77.00 and set an "overweight" rating on the stock in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Moelis & Company presently has an average rating of "Hold" and an average price target of $68.83.

Moelis & Company Stock Up 3.7%

The stock has a market capitalization of $4.76 billion, a PE ratio of 21.17, a PEG ratio of 2.45 and a beta of 1.91. The business's 50-day moving average is $60.08 and its two-hundred day moving average is $64.02.

Insider Activity at Moelis & Company

In other news, Director Kenneth Shropshire sold 1,881 shares of Moelis & Company stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $69.06, for a total transaction of $129,901.86. Following the sale, the director owned 7,633 shares in the company, valued at approximately $527,134.98. The trade was a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.29% of the company's stock.

Institutional Trading of Moelis & Company

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Moelis & Company by 11.5% during the second quarter. GAMMA Investing LLC now owns 1,489 shares of the asset manager's stock worth $97,000 after buying an additional 153 shares during the last quarter. Central Pacific Bank Trust Division increased its position in Moelis & Company by 8.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 2,690 shares of the asset manager's stock valued at $176,000 after acquiring an additional 200 shares during the period. Diversify Wealth Management LLC raised its stake in Moelis & Company by 0.3% during the 1st quarter. Diversify Wealth Management LLC now owns 95,168 shares of the asset manager's stock valued at $5,425,000 after acquiring an additional 238 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Moelis & Company by 6.1% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,709 shares of the asset manager's stock valued at $271,000 after acquiring an additional 270 shares during the last quarter. Finally, Root Financial Partners LLC raised its stake in Moelis & Company by 292.2% during the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager's stock valued at $26,000 after acquiring an additional 339 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

About Moelis & Company

Moelis & Company NYSE: MC is an independent global investment bank that provides strategic and financial advisory services to corporations, financial sponsors, governments and other institutions. Its advisory platform focuses on mergers and acquisitions, recapitalizations, restructurings, capital raising and other complex corporate finance matters.

The firm advises clients across a range of industries, including technology, media and telecommunications; financial services; consumer and retail; energy and infrastructure; healthcare; and industrials.

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