Moelis & Company (NYSE:MC) Price Target Increased to $44.00 by Analysts at JMP Securities
Moelis & Company (NYSE:MC) had its target price boosted by JMP Securities from $42.00 to $44.00 in a research note issued to investors on Tuesday morning. The brokerage currently has a market outperform rating on the asset manager’s stock.
MC has been the subject of several other reports. Keefe, Bruyette & Woods raised shares of Moelis & to a hold rating and set a $39.00 target price for the company in a report on Thursday, May 4th. UBS AG reaffirmed a neutral rating and issued a $42.00 target price (up from $40.00) on shares of Moelis & in a report on Tuesday. ValuEngine raised shares of Moelis & from a hold rating to a buy rating in a report on Thursday, June 1st. BidaskClub raised shares of Moelis & from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research cut shares of Moelis & from a hold rating to a sell rating in a report on Wednesday, April 12th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Moelis & currently has a consensus rating of Buy and an average target price of $39.22.
Moelis & (NYSE MC) traded down 1.36% on Tuesday, hitting $39.75. 590,237 shares of the stock were exchanged. Moelis & has a 12 month low of $23.60 and a 12 month high of $44.85. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 17.77 and a beta of 1.87. The company has a 50-day moving average of $39.20 and a 200-day moving average of $37.29.
Moelis & (NYSE:MC) last issued its earnings results on Monday, July 24th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.15. The business had revenue of $172.10 million during the quarter, compared to analysts’ expectations of $156.85 million. Moelis & had a net margin of 8.50% and a return on equity of 53.43%. The business’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. On average, equities analysts predict that Moelis & will post $2.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, August 1st. This represents a $1.48 annualized dividend and a dividend yield of 3.72%. Moelis &’s payout ratio is 74.00%.
In other news, Chairman Kenneth Moelis sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $37.46, for a total transaction of $561,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 64.47% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MC. Envestnet Asset Management Inc. raised its stake in shares of Moelis & by 11.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,030 shares of the asset manager’s stock valued at $117,000 after buying an additional 315 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Moelis & during the second quarter valued at about $130,000. Nisa Investment Advisors LLC acquired a new stake in shares of Moelis & during the second quarter valued at about $144,000. Legal & General Group Plc raised its stake in shares of Moelis & by 26.5% in the first quarter. Legal & General Group Plc now owns 5,753 shares of the asset manager’s stock valued at $220,000 after buying an additional 1,204 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Moelis & during the first quarter valued at about $264,000. 93.93% of the stock is owned by hedge funds and other institutional investors.
Moelis & 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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