Piper Sandler Cuts Moelis & Company (NYSE:MC) Price Target to $52.00

Moelis & Company (NYSE:MCGet Rating) had its price target trimmed by Piper Sandler from $61.00 to $52.00 in a report published on Thursday, The Fly reports. The firm currently has an overweight rating on the asset manager’s stock. Piper Sandler also issued estimates for Moelis & Company’s Q1 2022 earnings at $0.81 EPS, Q2 2022 earnings at $0.86 EPS and Q4 2023 earnings at $1.21 EPS.

Other analysts also recently issued reports about the company. The Goldman Sachs Group upgraded Moelis & Company from a sell rating to a neutral rating and decreased their price objective for the company from $68.00 to $65.00 in a report on Thursday, January 6th. UBS Group reduced their target price on Moelis & Company from $85.00 to $73.00 and set a buy rating for the company in a research note on Tuesday, January 4th. StockNews.com assumed coverage on Moelis & Company in a research note on Thursday, March 31st. They issued a hold rating for the company. Morgan Stanley lowered their price target on Moelis & Company from $65.00 to $53.00 and set an equal weight rating for the company in a report on Tuesday, March 8th. Finally, Zacks Investment Research cut Moelis & Company from a buy rating to a hold rating and set a $54.00 target price for the company. in a report on Monday, February 14th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Moelis & Company currently has an average rating of Hold and a consensus price target of $59.57.

NYSE:MC opened at $44.72 on Thursday. Moelis & Company has a 1-year low of $43.72 and a 1-year high of $77.49. The firm’s 50-day moving average price is $48.65 and its 200-day moving average price is $59.05. The company has a market capitalization of $3.00 billion, a PE ratio of 8.37 and a beta of 1.24.

Moelis & Company (NYSE:MCGet Rating) last issued its quarterly earnings data on Wednesday, February 9th. The asset manager reported $1.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.06). The business had revenue of $425.02 million during the quarter, compared to the consensus estimate of $436.74 million. Moelis & Company had a return on equity of 85.78% and a net margin of 23.71%. During the same quarter last year, the company earned $1.99 EPS. As a group, analysts expect that Moelis & Company will post 4.08 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 28th. Stockholders of record on Tuesday, February 22nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date was Friday, February 18th. Moelis & Company’s dividend payout ratio (DPR) is currently 44.94%.

In related news, COO Elizabeth Crain sold 11,757 shares of Moelis & Company stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $47.12, for a total value of $553,989.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kenneth Moelis sold 34,370 shares of Moelis & Company stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $47.12, for a total transaction of $1,619,514.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,121 shares of company stock valued at $4,058,022. 17.99% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in MC. City State Bank bought a new stake in Moelis & Company in the 4th quarter worth $166,000. Norges Bank bought a new stake in Moelis & Company during the 4th quarter valued at about $37,391,000. Westwood Holdings Group Inc. grew its stake in shares of Moelis & Company by 5.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,316,503 shares of the asset manager’s stock worth $82,295,000 after acquiring an additional 72,828 shares during the period. Barclays PLC grew its position in Moelis & Company by 50.5% during the fourth quarter. Barclays PLC now owns 95,222 shares of the asset manager’s stock valued at $5,952,000 after buying an additional 31,940 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Moelis & Company by 0.4% in the fourth quarter. BlackRock Inc. now owns 4,580,783 shares of the asset manager’s stock worth $286,344,000 after buying an additional 18,964 shares in the last quarter. Institutional investors own 83.76% of the company’s stock.

About Moelis & Company (Get Rating)

Moelis & Company operates as an investment banking advisory firm in the United States, Europe, and internationally. 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.

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