UBS Group Has Lowered Expectations for Moelis & Company (NYSE:MC) Stock Price

Moelis & Company (NYSE:MC) had its price target dropped by stock analysts at UBS Group from $59.00 to $58.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. UBS Group’s price objective indicates a potential downside of 7.61% from the stock’s current price.

A number of other research analysts have also commented on MC. JPMorgan Chase & Co. upped their price target on shares of Moelis & Company from $80.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Keefe, Bruyette & Woods decreased their price target on shares of Moelis & Company from $80.00 to $64.00 and set a “market perform” rating on the stock in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a research note on Monday, December 29th. The Goldman Sachs Group decreased their price target on shares of Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Finally, Morgan Stanley increased their target price on shares of Moelis & Company from $89.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Moelis & Company currently has an average rating of “Hold” and a consensus target price of $71.89.

Moelis & Company Stock Performance

Shares of MC opened at $62.78 on Wednesday. Moelis & Company has a 52 week low of $48.73 and a 52 week high of $78.22. The firm has a market cap of $4.87 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 0.66 and a beta of 1.87. The firm’s 50-day simple moving average is $60.41 and its 200 day simple moving average is $65.98.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.37. Moelis & Company had a net margin of 15.36% and a return on equity of 41.67%. The business had revenue of $487.94 million for the quarter, compared to analyst estimates of $430.17 million. During the same quarter in the prior year, the business earned $1.18 EPS. Moelis & Company’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that Moelis & Company will post 2.97 earnings per share for the current year.

Insider Activity

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 2,765 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $62.23, for a total transaction of $172,065.95. Following the transaction, the general counsel owned 4,981 shares in the company, valued at $309,967.63. This represents a 35.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP grew its position in shares of Moelis & Company by 3.9% during the 4th quarter. Wasatch Advisors LP now owns 3,432,623 shares of the asset manager’s stock worth $235,959,000 after purchasing an additional 128,443 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Moelis & Company by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,194,479 shares of the asset manager’s stock worth $219,588,000 after acquiring an additional 66,697 shares in the last quarter. State Street Corp boosted its position in shares of Moelis & Company by 3.2% during the 2nd quarter. State Street Corp now owns 2,862,337 shares of the asset manager’s stock worth $178,381,000 after acquiring an additional 89,143 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Moelis & Company by 6.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,396,230 shares of the asset manager’s stock worth $149,333,000 after acquiring an additional 135,885 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Moelis & Company by 5.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,876,472 shares of the asset manager’s stock worth $128,989,000 after acquiring an additional 89,365 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

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. 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.