Moelis & Company (NYSE:MC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $48.00 price objective on the asset manager’s stock. Zacks Investment Research‘s target price indicates a potential upside of 12.28% from the stock’s previous close.

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. “

Other research analysts also recently issued reports about the stock. JMP Securities boosted their price objective on shares of Moelis & from $42.00 to $44.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 25th. BidaskClub downgraded shares of Moelis & from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Bank of America Corporation boosted their price objective on shares of Moelis & from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. UBS AG restated a “neutral” rating and set a $42.00 price objective (up from $40.00) on shares of Moelis & in a research report on Tuesday, July 25th. Finally, Morgan Stanley boosted their price objective on shares of Moelis & from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $42.00.

Moelis & (NYSE:MC) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.15. Moelis & had a net margin of 9.62% and a return on equity of 56.83%. The company had revenue of $170.00 million during the quarter, compared to the consensus estimate of $168.51 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 12.8% on a year-over-year basis.

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In other news, CEO Kenneth Moelis sold 9,500 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $42.41, for a total transaction of $402,895.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.64% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in shares of Moelis & by 150.1% during the first quarter. Goldman Sachs Group Inc. now owns 136,424 shares of the asset manager’s stock worth $5,252,000 after buying an additional 81,877 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Moelis & by 76.7% during the second quarter. Principal Financial Group Inc. now owns 492,290 shares of the asset manager’s stock worth $19,125,000 after buying an additional 213,740 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Moelis & during the second quarter worth $875,000. Morgan Stanley increased its holdings in shares of Moelis & by 17.4% during the first quarter. Morgan Stanley now owns 319,532 shares of the asset manager’s stock worth $12,302,000 after buying an additional 47,402 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Moelis & by 2.5% during the second quarter. Teachers Advisors LLC now owns 117,042 shares of the asset manager’s stock worth $4,547,000 after buying an additional 2,863 shares in the last quarter. Institutional investors own 90.80% of the company’s stock.

About Moelis &

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.

Analyst Recommendations for Moelis & (NYSE:MC)

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