UBS Group Increases Moelis & Company (NYSE:MC) Price Target to $43.00

Moelis & Company (NYSE:MCGet Rating) had its price objective lifted by analysts at UBS Group from $40.00 to $43.00 in a research note issued on Thursday, MarketBeat.com reports. The firm currently has a “neutral” rating on the asset manager’s stock. UBS Group’s price objective points to a potential downside of 7.69% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Wolfe Research cut shares of Moelis & Company from a “peer perform” rating to an “underperform” rating and set a $42.00 price objective for the company. in a report on Monday, July 11th. Keefe, Bruyette & Woods cut shares of Moelis & Company from an “outperform” rating to a “market perform” rating and set a $57.00 price objective for the company. in a report on Wednesday, April 6th. Piper Sandler reduced their target price on shares of Moelis & Company from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, July 8th. The Goldman Sachs Group reduced their target price on shares of Moelis & Company from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 12th. Finally, Morgan Stanley cut shares of Moelis & Company from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $53.00 to $36.00 in a report on Monday, July 18th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company has a consensus rating of “Hold” and an average target price of $44.67.

Moelis & Company Stock Performance

Shares of NYSE MC opened at $46.58 on Thursday. The firm’s 50 day moving average price is $41.93 and its 200-day moving average price is $46.18. The company has a market cap of $3.24 billion, a PE ratio of 8.82 and a beta of 1.24. Moelis & Company has a 52-week low of $37.16 and a 52-week high of $77.49.

Moelis & Company (NYSE:MCGet Rating) last issued its earnings results on Wednesday, July 27th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.07). Moelis & Company had a return on equity of 89.78% and a net margin of 23.08%. The firm had revenue of $242.52 million during the quarter, compared to the consensus estimate of $199.79 million. During the same quarter in the prior year, the company posted $1.19 EPS. The company’s quarterly revenue was down 32.8% on a year-over-year basis. On average, analysts forecast that Moelis & Company will post 3.11 earnings per share for the current fiscal year.

Insider Transactions at Moelis & Company

In other news, COO Elizabeth Crain sold 7,000 shares of the stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $47.08, for a total value of $329,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.97% of the company’s stock.

Institutional Trading of Moelis & Company

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd bought a new position in shares of Moelis & Company during the fourth quarter worth $29,000. MUFG Americas Holdings Corp boosted its position in shares of Moelis & Company by 157.8% during the fourth quarter. MUFG Americas Holdings Corp now owns 691 shares of the asset manager’s stock worth $43,000 after acquiring an additional 423 shares during the last quarter. HM Payson & Co. bought a new position in shares of Moelis & Company during the first quarter worth $44,000. First Horizon Advisors Inc. boosted its position in shares of Moelis & Company by 231.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,024 shares of the asset manager’s stock worth $63,000 after acquiring an additional 715 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Moelis & Company during the fourth quarter worth $78,000. 86.17% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for Moelis & Company (NYSE:MC)

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