The Goldman Sachs Group Boosts Moelis & Company (NYSE:MC) Price Target to $63.00

Moelis & Company (NYSE:MC) had its price objective lifted by The Goldman Sachs Group from $56.00 to $63.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 2.26% from the company’s current price.

MC has been the topic of several other reports. StockNews.com cut Moelis & Company from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th. Wells Fargo & Company dropped their price objective on Moelis & Company from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their target price on Moelis & Company from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $92.00 price target (up from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. Finally, JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.83.

Moelis & Company Trading Up 0.9%

NYSE MC opened at $61.61 on Thursday. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89. The stock’s fifty day moving average price is $55.63 and its 200-day moving average price is $67.68. The stock has a market cap of $4.84 billion, a P/E ratio of 35.00 and a beta of 1.66.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $306.59 million for the quarter, compared to the consensus estimate of $309.67 million. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. Moelis & Company’s revenue for the quarter was up 41.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 EPS. As a group, analysts forecast that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, Director Kenneth Shropshire sold 2,551 shares of Moelis & Company stock in a transaction on Friday, February 21st. The shares were sold at an average price of $72.30, for a total value of $184,437.30. Following the completion of the transaction, the director now directly owns 6,940 shares of the company’s stock, valued at $501,762. This trade represents a 26.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher Callesano sold 1,282 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $74.00, for a total transaction of $94,868.00. Following the sale, the insider now owns 1,227 shares in the company, valued at $90,798. This represents a 51.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,721 shares of company stock worth $1,677,017. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Moelis & Company

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Edgestream Partners L.P. bought a new position in shares of Moelis & Company during the 4th quarter valued at approximately $2,784,000. Charles Schwab Investment Management Inc. increased its position in Moelis & Company by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,552 shares of the asset manager’s stock valued at $69,119,000 after acquiring an additional 12,632 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in shares of Moelis & Company in the fourth quarter valued at $9,149,000. Raymond James Financial Inc. bought a new stake in shares of Moelis & Company in the 4th quarter worth about $27,855,000. Finally, Entropy Technologies LP bought a new stake in shares of Moelis & Company in the 4th quarter worth about $412,000. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.