Q4 2022 Earnings Estimate for Moelis & Company (NYSE:MC) Issued By Seaport Res Ptn

Moelis & Company (NYSE:MCGet Rating) – Seaport Res Ptn lowered their Q4 2022 EPS estimates for Moelis & Company in a research report issued on Thursday, January 12th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will earn $0.36 per share for the quarter, down from their previous forecast of $0.60. The consensus estimate for Moelis & Company’s current full-year earnings is $2.28 per share.

A number of other brokerages have also weighed in on MC. StockNews.com started coverage on Moelis & Company in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. cut their target price on Moelis & Company from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. UBS Group cut their target price on Moelis & Company from $32.00 to $30.00 and set a “sell” rating for the company in a research note on Monday, January 9th. Keefe, Bruyette & Woods downgraded Moelis & Company from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $40.00 to $37.00 in a research report on Thursday, November 3rd. Finally, The Goldman Sachs Group downgraded Moelis & Company from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $40.00 to $37.00 in a research report on Wednesday, January 11th. Five investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $38.14.

Moelis & Company Trading Down 0.4 %

Moelis & Company stock opened at $45.14 on Monday. Moelis & Company has a 12 month low of $33.12 and a 12 month high of $60.32. The stock’s 50 day simple moving average is $41.86 and its two-hundred day simple moving average is $41.27. The firm has a market cap of $3.10 billion, a PE ratio of 13.76 and a beta of 1.39.

Moelis & Company (NYSE:MCGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The asset manager reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. Moelis & Company had a net margin of 19.06% and a return on equity of 55.92%. The firm had revenue of $233.51 million for the quarter, compared to the consensus estimate of $208.42 million.

Hedge Funds Weigh In On Moelis & Company

A number of large investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Moelis & Company by 12.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,928,445 shares of the asset manager’s stock worth $234,251,000 after acquiring an additional 792,661 shares in the last quarter. Madison Asset Management LLC raised its stake in shares of Moelis & Company by 84.7% in the 2nd quarter. Madison Asset Management LLC now owns 773,185 shares of the asset manager’s stock worth $30,425,000 after buying an additional 354,484 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Moelis & Company by 448.3% in the 2nd quarter. Renaissance Technologies LLC now owns 414,244 shares of the asset manager’s stock worth $16,301,000 after buying an additional 338,700 shares in the last quarter. Raymond James & Associates raised its stake in shares of Moelis & Company by 267.8% in the 3rd quarter. Raymond James & Associates now owns 376,340 shares of the asset manager’s stock worth $12,724,000 after buying an additional 274,023 shares in the last quarter. Finally, Adirondack Retirement Specialists Inc. grew its holdings in shares of Moelis & Company by 124.6% in the 2nd quarter. Adirondack Retirement Specialists Inc. now owns 423,639 shares of the asset manager’s stock worth $16,492,000 after acquiring an additional 235,031 shares during the last quarter. 90.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, CFO Joseph Simon sold 12,370 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $45.98, for a total value of $568,772.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Kenneth Moelis sold 10,253 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $45.55, for a total transaction of $467,024.15. Following the transaction, the chief executive officer now directly owns 193,423 shares in the company, valued at $8,810,417.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph Simon sold 12,370 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $45.98, for a total value of $568,772.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,544 shares of company stock valued at $4,850,992. Insiders own 7.97% of the company’s stock.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Investors of record on Monday, November 14th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend was Thursday, November 10th. Moelis & Company’s dividend payout ratio is presently 73.17%.

About Moelis & Company

(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.

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