Zacks Investment Research Lowers Moelis & Co (MC) to Hold
Zacks Investment Research cut shares of Moelis & Co (NYSE:MC) from a buy rating to a hold rating in a report issued on Wednesday.
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 have also recently commented on the stock. Morgan Stanley raised their price target on shares of Moelis & Co from $45.00 to $49.00 and gave the stock an overweight rating in a report on Thursday, October 26th. JMP Securities raised their price target on shares of Moelis & Co from $44.00 to $47.00 and gave the stock a market outperform rating in a report on Thursday, October 26th. Finally, UBS raised their price objective on shares of Moelis & Co from $42.00 to $45.00 and gave the company a neutral rating in a research report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $46.33.
Moelis & Co (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.57 EPS for the quarter, topping the consensus estimate of $0.42 by $0.15. The business had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $168.51 million. Moelis & Co had a net margin of 9.62% and a return on equity of 52.76%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. equities research analysts forecast that Moelis & Co will post 2.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 6th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Friday, November 3rd. Moelis & Co’s payout ratio is presently 70.81%.
In related news, CEO Kenneth Moelis sold 9,500 shares of the firm’s stock in a transaction that occurred 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 document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 80,956 shares of company stock worth $3,451,515. Insiders own 52.64% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. raised its position in Moelis & Co by 0.3% during the second quarter. Alps Advisors Inc. now owns 12,752 shares of the asset manager’s stock valued at $495,000 after acquiring an additional 33 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Moelis & Co by 0.8% during the second quarter. Hillsdale Investment Management Inc. now owns 26,810 shares of the asset manager’s stock valued at $1,041,000 after acquiring an additional 210 shares in the last quarter. Stifel Financial Corp raised its position in shares of Moelis & Co by 1.3% in the second quarter. Stifel Financial Corp now owns 36,542 shares of the asset manager’s stock valued at $1,422,000 after purchasing an additional 478 shares during the period. Legal & General Group Plc raised its position in shares of Moelis & Co by 11.7% in the second quarter. Legal & General Group Plc now owns 6,427 shares of the asset manager’s stock valued at $249,000 after purchasing an additional 674 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Moelis & Co by 1.9% in the second quarter. Alliancebernstein L.P. now owns 41,300 shares of the asset manager’s stock valued at $1,605,000 after purchasing an additional 780 shares during the period. 56.81% of the stock is currently owned by hedge funds and other institutional investors.
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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