Morgan Stanley Cuts Moelis & Co (NYSE:MC) Price Target to $41.00

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Moelis & Co (NYSE:MC) had its price objective reduced by Morgan Stanley from $45.00 to $41.00 in a report released on Monday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the asset manager’s stock.

MC has been the subject of a number of other research reports. JMP Securities upped their target price on shares of Stifel Financial from $61.00 to $65.00 and gave the stock a market outperform rating in a report on Monday, April 8th. Zacks Investment Research raised shares of Hope Bancorp from a sell rating to a hold rating in a research report on Wednesday, April 17th. Bank of America set a $7.00 price target on shares of Deutsche Bank and gave the stock a sell rating in a research report on Thursday, April 11th. Finally, ValuEngine cut shares of Whiting USA Trust II from a hold rating to a sell rating in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $50.56.

NYSE MC traded up $0.18 on Monday, hitting $33.59. 608,313 shares of the company’s stock traded hands, compared to its average volume of 556,590. The company has a quick ratio of 10.48, a current ratio of 10.48 and a debt-to-equity ratio of 0.21. Moelis & Co has a 1-year low of $31.64 and a 1-year high of $65.94. The stock’s 50-day moving average price is $33.64. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.25 and a beta of 1.98.

Moelis & Co (NYSE:MC) last posted its earnings results on Tuesday, April 30th. The asset manager reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.08. The firm had revenue of $137.78 million during the quarter, compared to analysts’ expectations of $141.54 million. Moelis & Co had a net margin of 15.04% and a return on equity of 49.19%. The business’s revenue was down 37.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. As a group, equities research analysts forecast that Moelis & Co will post 2.5 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Friday, May 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend was Thursday, May 9th. Moelis & Co’s dividend payout ratio (DPR) is presently 66.67%.

In related news, CEO Kenneth Moelis sold 84,708 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $3,176,550.00. Following the sale, the chief executive officer now directly owns 171,426 shares of the company’s stock, valued at approximately $6,428,475. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Elizabeth Crain sold 31,669 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $32.13, for a total value of $1,017,524.97. Following the sale, the chief operating officer now directly owns 38,638 shares in the company, valued at $1,241,438.94. The disclosure for this sale can be found here. Insiders have sold a total of 227,181 shares of company stock worth $8,350,975 over the last three months. 19.67% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of MC. Sageworth Trust Co bought a new position in shares of Moelis & Co in the first quarter worth $28,000. Hilton Capital Management LLC bought a new position in shares of Moelis & Co in the first quarter worth $101,000. NumerixS Investment Technologies Inc bought a new position in shares of Moelis & Co in the fourth quarter worth $113,000. Great West Life Assurance Co. Can grew its stake in shares of Moelis & Co by 44.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,763 shares of the asset manager’s stock worth $190,000 after purchasing an additional 1,779 shares in the last quarter. Finally, GYL Financial Synergies LLC acquired a new stake in shares of Moelis & Co in the first quarter valued at $204,000. 74.66% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Co Company Profile

Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.

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Analyst Recommendations for Moelis & Co (NYSE:MC)

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