Moelis & Company (NYSE:MC) Price Target Cut to $70.00 by Analysts at The Goldman Sachs Group

Moelis & Company (NYSE:MC) had its target price cut by The Goldman Sachs Group from $80.00 to $70.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

MC has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on 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 cut shares of Moelis & Company from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $78.00 to $80.00 in a research note on Tuesday, December 16th. Bank of America started coverage on Moelis & Company in a research report on Monday, January 26th. They set a “neutral” rating and a $81.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Moelis & Company in a research report on Monday, December 29th. Finally, UBS Group increased their price objective on Moelis & Company from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Moelis & Company currently has an average rating of “Hold” and an average price target of $75.44.

Moelis & Company Stock Performance

Shares of MC stock opened at $51.32 on Thursday. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $78.22. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.59 and a beta of 1.90. The stock’s 50-day moving average is $68.10 and its two-hundred day moving average is $68.45.

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

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, February 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 5.1%. Moelis & Company’s dividend payout ratio (DPR) is currently 88.44%.

Insider Transactions at Moelis & Company

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 2,765 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $62.23, for a total value of $172,065.95. Following the transaction, the general counsel owned 4,981 shares in the company, valued at $309,967.63. The trade was a 35.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Moelis & Company

Institutional investors have recently made changes to their positions in the business. Impact Capital Partners LLC raised its holdings in Moelis & Company by 1.2% in the third quarter. Impact Capital Partners LLC now owns 12,000 shares of the asset manager’s stock valued at $856,000 after acquiring an additional 147 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in Moelis & Company by 0.4% in the third quarter. Moran Wealth Management LLC now owns 37,988 shares of the asset manager’s stock worth $2,709,000 after acquiring an additional 156 shares during the last quarter. Hantz Financial Services Inc. boosted its position in Moelis & Company by 64.4% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 163 shares during the period. Wesbanco Bank Inc. boosted its holdings in shares of Moelis & Company by 2.1% during the fourth quarter. Wesbanco Bank Inc. now owns 8,889 shares of the asset manager’s stock valued at $611,000 after acquiring an additional 180 shares during the period. Finally, GW Henssler & Associates Ltd. boosted its stake in Moelis & Company by 5.6% during the 4th quarter. GW Henssler & Associates Ltd. now owns 3,433 shares of the asset manager’s stock valued at $236,000 after purchasing an additional 181 shares during the period. 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. 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.