Morgan Stanley Cuts Moelis & Co (MC) Price Target to $46.00

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Moelis & Co (NYSE:MC) had its price target cut by Morgan Stanley from $59.00 to $46.00 in a research note released on Tuesday. They currently have an equal weight rating on the asset manager’s stock.

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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Analyst Recommendations for Moelis & Co (NYSE:MC)

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