StockNews.com Lowers Moelis & Company (NYSE:MC) to Sell

Moelis & Company (NYSE:MC) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

A number of other equities analysts have also recently weighed in on the stock. UBS Group upped their price objective on shares of Moelis & Company from $29.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, October 3rd. Morgan Stanley reduced their target price on shares of Moelis & Company from $39.00 to $38.00 and set an “underweight” rating for the company in a research report on Friday, November 3rd. Four research analysts have rated the stock with a sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $36.67.

Moelis & Company Trading Down 1.4 %

NYSE:MC traded down $0.63 during trading hours on Monday, reaching $44.69. 608,484 shares of the company were exchanged, compared to its average volume of 741,844. The stock’s 50-day moving average is $43.80 and its 200-day moving average is $43.94. The firm has a market cap of $3.18 billion, a PE ratio of 29.21 and a beta of 1.41. Moelis & Company has a twelve month low of $33.87 and a twelve month high of $52.50.

Insider Activity

In related news, CEO Kenneth Moelis sold 23,388 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $42.20, for a total value of $986,973.60. Following the completion of the sale, the chief executive officer now owns 74,983 shares of the company’s stock, valued at $3,164,282.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.96% of the company’s stock.

Institutional Investors Weigh In On Moelis & Company

A number of hedge funds have recently modified their holdings of MC. Advisor Group Holdings Inc. grew its holdings in shares of Moelis & Company by 12.7% in the first quarter. Advisor Group Holdings Inc. now owns 13,269 shares of the asset manager’s stock valued at $438,000 after purchasing an additional 1,498 shares during the period. Bank of New York Mellon Corp boosted its stake in Moelis & Company by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 556,181 shares of the asset manager’s stock worth $26,113,000 after buying an additional 17,074 shares during the period. US Bancorp DE boosted its stake in Moelis & Company by 9.1% during the first quarter. US Bancorp DE now owns 7,401 shares of the asset manager’s stock worth $348,000 after buying an additional 620 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Moelis & Company by 95.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,478 shares of the asset manager’s stock worth $351,000 after buying an additional 3,653 shares during the period. Finally, Cetera Advisor Networks LLC boosted its stake in Moelis & Company by 15.0% during the first quarter. Cetera Advisor Networks LLC now owns 6,366 shares of the asset manager’s stock worth $299,000 after buying an additional 828 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.