MC has been the topic of several other reports. Sandler O’Neill raised shares of Moelis & Co from a hold rating to a buy rating and set a $45.00 price objective on the stock in a report on Friday, December 7th. Goldman Sachs Group initiated coverage on Moelis & Co in a research report on Tuesday, November 6th. They set a buy rating and a $53.00 price target on the stock. Zacks Investment Research cut Moelis & Co from a buy rating to a hold rating in a research report on Thursday, October 25th. UBS Group decreased their price target on Moelis & Co from $62.00 to $59.00 and set a neutral rating on the stock in a research report on Monday, October 8th. Finally, Keefe, Bruyette & Woods reiterated an outperform rating and set a $43.00 price target on shares of Moelis & Co in a research report on Friday, January 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Moelis & Co currently has an average rating of Buy and a consensus price target of $54.67.
Shares of NYSE:MC traded up $0.29 during midday trading on Tuesday, reaching $38.19. The company had a trading volume of 7,887 shares, compared to its average volume of 496,854. The company has a market capitalization of $2.08 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 0.92 and a beta of 1.87. Moelis & Co has a 52-week low of $32.66 and a 52-week high of $67.65.
Moelis & Co (NYSE:MC) last issued its quarterly earnings results on Monday, October 22nd. The asset manager reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). The company had revenue of $207.70 million during the quarter, compared to analysts’ expectations of $215.19 million. Moelis & Co had a return on equity of 53.14% and a net margin of 9.39%. Moelis & Co’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. As a group, analysts predict that Moelis & Co will post 2.8 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its stake in shares of Moelis & Co by 32.5% during the second quarter. Rhumbline Advisers now owns 37,470 shares of the asset manager’s stock valued at $2,198,000 after purchasing an additional 9,192 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Moelis & Co by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 442,433 shares of the asset manager’s stock valued at $25,947,000 after purchasing an additional 24,688 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Moelis & Co by 17.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 199,788 shares of the asset manager’s stock valued at $11,718,000 after purchasing an additional 29,147 shares during the period. BlackRock Inc. lifted its stake in Moelis & Co by 46.3% in the second quarter. BlackRock Inc. now owns 5,351,438 shares of the asset manager’s stock worth $313,861,000 after acquiring an additional 1,694,763 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Moelis & Co by 6.7% in the second quarter. Renaissance Technologies LLC now owns 261,000 shares of the asset manager’s stock worth $15,308,000 after acquiring an additional 16,400 shares during the period. Institutional investors and hedge funds own 75.54% of the company’s stock.
About Moelis & Co
Moelis & Company is a global investment bank. The firm provides services relating to mergers & acquisitions, recapitalization & restructuring, capital markets and financial institution advisory; private funds; shareholder defense and strategic alliances. The firm's expertise is into global energy; IPO advisory; technology, media, telecommunication sectors.
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