Zacks Investment Research cut shares of Moelis & Co (NYSE:MC) from a buy rating to a hold rating in a report published on Friday.

According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “

Several other analysts also recently commented on the company. ValuEngine upgraded Moelis & Co from a hold rating to a buy rating in a research note on Sunday, December 31st. UBS Group increased their target price on Moelis & Co from $42.00 to $45.00 and gave the company a neutral rating in a research note on Thursday, October 26th. JMP Securities increased their target price on Moelis & Co from $44.00 to $47.00 and gave the company a market outperform rating in a research note on Thursday, October 26th. Finally, Morgan Stanley increased their target price on Moelis & Co from $45.00 to $49.00 and gave the company an overweight rating in a research note on Thursday, October 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Moelis & Co currently has an average rating of Buy and an average price target of $46.67.

Shares of Moelis & Co (NYSE MC) opened at $48.55 on Friday. The firm has a market capitalization of $2,590.00, a P/E ratio of 23.23, a P/E/G ratio of 2.07 and a beta of 1.91. Moelis & Co has a 52 week low of $32.90 and a 52 week high of $50.40.

Moelis & Co (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.15. The company had revenue of $170.00 million for the quarter, compared to the consensus estimate of $168.51 million. Moelis & Co had a return on equity of 52.76% and a net margin of 9.62%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 EPS. analysts forecast that Moelis & Co will post 2.42 earnings per share for the current year.

In other Moelis & Co news, Chairman Kenneth Moelis sold 40,800 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $42.66, for a total transaction of $1,740,528.00. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 80,956 shares of company stock worth $3,451,515. Company insiders own 52.64% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Moelis & Co by 6.4% during the 2nd quarter. BlackRock Inc. now owns 2,379,872 shares of the asset manager’s stock valued at $92,458,000 after buying an additional 142,321 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Moelis & Co by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,039,429 shares of the asset manager’s stock valued at $79,233,000 after buying an additional 119,368 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Moelis & Co by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,486,795 shares of the asset manager’s stock valued at $64,378,000 after buying an additional 19,377 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Moelis & Co by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 805,286 shares of the asset manager’s stock valued at $34,669,000 after buying an additional 3,106 shares during the period. Finally, AGF Investments Inc. lifted its holdings in shares of Moelis & Co by 17.5% during the 3rd quarter. AGF Investments Inc. now owns 662,203 shares of the asset manager’s stock valued at $28,508,000 after buying an additional 98,617 shares during the period. 56.70% of the stock is currently owned by hedge funds and other institutional investors.

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Moelis & Co Company Profile

Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.

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