Moelis & Company (NYSE:MC) Stock Has Average Target Price of $73.62 According to Brokerages

Moelis & Company (NYSE:MC) has received a consensus rating of “Hold” from the nine research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $73.57.

MC has been the subject of a number of analyst reports. Zacks Research upgraded shares of Moelis & Company from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Morgan Stanley increased their price target on shares of Moelis & Company from $83.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of Moelis & Company from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group reduced their price objective on shares of Moelis & Company from $71.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Weiss Ratings upgraded shares of Moelis & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday.

Insider Transactions at Moelis & Company

In related news, Director Kenneth Shropshire sold 1,881 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $69.06, for a total value of $129,901.86. Following the transaction, the director directly owned 7,633 shares of the company’s stock, valued at approximately $527,134.98. This trade represents a 19.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Osamu Watanabe sold 4,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $69.30, for a total value of $336,105.00. Following the sale, the general counsel directly owned 131 shares of the company’s stock, valued at $9,078.30. The trade was a 97.37% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.29% of the company’s stock.

Institutional Investors Weigh In On Moelis & Company

Large investors have recently modified their holdings of the stock. Madison Asset Management LLC bought a new stake in shares of Moelis & Company during the second quarter worth $109,065,000. Norges Bank acquired a new position in Moelis & Company during the 4th quarter worth about $42,919,000. Junto Capital Management LP acquired a new position in shares of Moelis & Company during the second quarter worth approximately $31,529,000. Fort Washington Investment Advisors Inc. OH acquired a new position in Moelis & Company during the 1st quarter worth $21,701,000. Finally, Wasatch Advisors LP boosted its position in Moelis & Company by 9.0% in the 1st quarter. Wasatch Advisors LP now owns 3,742,624 shares of the asset manager’s stock valued at $213,330,000 after buying an additional 310,001 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors.

Moelis & Company Price Performance

MC opened at $56.27 on Wednesday. Moelis & Company has a fifty-two week low of $51.06 and a fifty-two week high of $78.22. The business has a 50-day moving average of $64.89 and a 200-day moving average of $64.68. The company has a market capitalization of $4.40 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 0.74 and a beta of 1.91.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. Moelis & Company had a return on equity of 39.59% and a net margin of 14.50%.The business had revenue of $409.39 million during the quarter, compared to analysts’ expectations of $387.27 million. During the same quarter in the previous year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts expect that Moelis & Company will post 3.09 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Monday, August 10th were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.6%. Moelis & Company’s payout ratio is currently 90.59%.

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. The firm advises clients on mergers and acquisitions, divestitures, recapitalizations, restructurings, liability management, capital raising and other complex financial transactions.

Moelis & Company serves clients across a range of industries, including technology, media and telecommunications; consumer and retail; energy and infrastructure; financial services; healthcare; industrials; and real estate.