Moelis & Company (NYSE:MC) Price Target Raised to $74.00 at UBS Group

Moelis & Company (NYSE:MC) had its target price raised by UBS Group from $70.00 to $74.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Several other analysts also recently commented on MC. BMO Capital Markets assumed coverage on shares of Moelis & Company in a report on Friday, October 3rd. They issued a “market perform” rating and a $74.00 target price for the company. Zacks Research lowered shares of Moelis & Company from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Moelis & Company in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Moelis & Company in a research note on Thursday, October 9th. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Morgan Stanley increased their price target on Moelis & Company from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $72.00.

Moelis & Company Stock Down 2.6%

Shares of NYSE:MC opened at $74.58 on Wednesday. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 0.62 and a beta of 1.85. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89. The business’s 50 day moving average is $66.86 and its 200 day moving average is $68.88.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11. Moelis & Company had a return on equity of 45.62% and a net margin of 15.98%.The business had revenue of $356.89 million during the quarter, compared to analyst estimates of $336.14 million. During the same period in the prior year, the firm posted $0.22 EPS. Moelis & Company’s quarterly revenue was up 30.4% compared to the same quarter last year. As a group, equities research analysts expect that Moelis & Company will post 2.97 earnings per share for the current year.

Moelis & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Monday, November 10th were paid a $0.65 dividend. The ex-dividend date was Monday, November 10th. This represents a $2.60 annualized dividend and a dividend yield of 3.5%. Moelis & Company’s payout ratio is presently 86.96%.

Institutional Investors Weigh In On Moelis & Company

Large investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in shares of Moelis & Company by 89.8% in the third quarter. Bessemer Group Inc. now owns 389 shares of the asset manager’s stock worth $28,000 after purchasing an additional 184 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Moelis & Company by 153.9% during the 3rd quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock valued at $30,000 after buying an additional 254 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Moelis & Company by 89.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock worth $37,000 after buying an additional 282 shares during the period. Quarry LP grew its stake in Moelis & Company by 1,811.1% in the 3rd quarter. Quarry LP now owns 516 shares of the asset manager’s stock valued at $37,000 after buying an additional 489 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in Moelis & Company by 103.0% in the 3rd quarter. Global Retirement Partners LLC now owns 544 shares of the asset manager’s stock valued at $39,000 after buying an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

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. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.