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

StockNews.com downgraded shares of Moelis & Company (NYSE:MC) from a hold rating to a sell rating in a research note published on Wednesday morning.

Several other brokerages also recently issued reports on MC. Morgan Stanley reduced their price objective on Moelis & Company from $39.00 to $38.00 and set an underweight rating on the stock in a research report on Friday, November 3rd. UBS Group boosted their target price on shares of Moelis & Company from $29.00 to $30.00 and gave the company a sell rating in a research note on Tuesday, October 3rd. Four investment analysts have rated the stock with a sell rating, Based on data from MarketBeat, Moelis & Company presently has a consensus rating of Reduce and a consensus price target of $36.67.

Moelis & Company Stock Performance

MC stock opened at $42.30 on Wednesday. The stock’s 50 day moving average price is $44.26 and its 200 day moving average price is $43.68. The firm has a market cap of $3.01 billion, a P/E ratio of 79.80 and a beta of 1.41. Moelis & Company has a 1 year low of $33.87 and a 1 year high of $52.50.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Monday, November 13th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.67%. The ex-dividend date of this dividend is Friday, November 10th. Moelis & Company’s dividend payout ratio (DPR) is 452.84%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MC. Mirae Asset Global Investments Co. Ltd. grew its holdings in Moelis & Company by 1.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,743 shares of the asset manager’s stock valued at $1,066,000 after purchasing an additional 415 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Moelis & Company by 6.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,438 shares of the asset manager’s stock worth $564,000 after buying an additional 761 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Moelis & Company by 121.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,221 shares of the asset manager’s stock worth $191,000 after buying an additional 2,314 shares during the period. Credit Suisse AG boosted its holdings in Moelis & Company by 1.1% in the first quarter. Credit Suisse AG now owns 54,023 shares of the asset manager’s stock valued at $2,077,000 after acquiring an additional 584 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Moelis & Company by 168.0% during the first quarter. SG Americas Securities LLC now owns 17,391 shares of the asset manager’s stock valued at $669,000 after acquiring an additional 10,903 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

About Moelis & Company

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.