Wells Fargo & Company Raises Moelis & Company (NYSE:MC) Price Target to $64.00

Moelis & Company (NYSE:MC) had its target price lifted by investment analysts at Wells Fargo & Company from $50.00 to $64.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 7.81% from the stock’s current price.

MC has been the subject of a number of other reports. Wall Street Zen cut Moelis & Company from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a research note on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on Moelis & Company from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Morgan Stanley upgraded Moelis & Company from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $42.00 to $68.00 in a research note on Monday, June 23rd. Finally, The Goldman Sachs Group raised their target price on Moelis & Company from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $66.50.

Moelis & Company Stock Down 1.3%

Moelis & Company stock opened at $69.42 on Friday. The business has a fifty day moving average of $59.67 and a two-hundred day moving average of $63.73. The firm has a market cap of $5.45 billion, a P/E ratio of 31.84 and a beta of 1.64. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $306.59 million during the quarter, compared to analyst estimates of $309.67 million. Moelis & Company had a return on equity of 40.89% and a net margin of 13.22%. Moelis & Company’s revenue was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Equities analysts expect that Moelis & Company will post 2.97 earnings per share for the current year.

Institutional Trading of Moelis & Company

Several hedge funds and other institutional investors have recently bought and sold shares of MC. Charles Schwab Investment Management Inc. grew its holdings in Moelis & Company by 214.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,942,299 shares of the asset manager’s stock worth $171,713,000 after acquiring an additional 2,006,747 shares during the period. Norges Bank purchased a new position in Moelis & Company during the fourth quarter worth approximately $52,610,000. Goldman Sachs Group Inc. boosted its position in Moelis & Company by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager’s stock worth $137,548,000 after purchasing an additional 579,529 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in Moelis & Company by 215.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 723,384 shares of the asset manager’s stock worth $53,444,000 after purchasing an additional 494,123 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Moelis & Company by 457.0% during the first quarter. Jennison Associates LLC now owns 485,238 shares of the asset manager’s stock worth $28,318,000 after purchasing an additional 398,129 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Company Profile

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.