Moelis & Company (NYSE:MC) Price Target Cut to $59.00 by Analysts at UBS Group

Moelis & Company (NYSE:MC) had its price objective dropped by stock analysts at UBS Group from $74.00 to $59.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. UBS Group’s price target suggests a potential upside of 14.96% from the stock’s current price.

A number of other brokerages also recently weighed in on MC. Bank of America initiated coverage on Moelis & Company in a report on Monday, January 26th. They set a “neutral” rating and a $81.00 price target for the company. JPMorgan Chase & Co. boosted 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. Weiss Ratings restated a “hold (c)” rating on shares of Moelis & Company in a research report on Monday, December 29th. Keefe, Bruyette & Woods cut Moelis & Company from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $78.00 to $80.00 in a research note on Tuesday, December 16th. Finally, The Goldman Sachs Group dropped their price target on Moelis & Company from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.44.

Moelis & Company Trading Down 6.7%

NYSE:MC traded down $3.68 on Thursday, hitting $51.32. The company’s stock had a trading volume of 1,336,044 shares, compared to its average volume of 1,127,020. The stock has a fifty day moving average of $68.44 and a two-hundred day moving average of $68.57. Moelis & Company has a one year low of $47.00 and a one year high of $78.22. The firm has a market capitalization of $4.02 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 0.59 and a beta of 1.90.

Moelis & Company (NYSE:MC) last released its earnings results on Wednesday, February 4th. The asset manager reported $1.13 earnings per share 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 the consensus estimate of $430.17 million. Moelis & Company had a return on equity of 41.67% and a net margin of 15.36%.The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 EPS. As a group, sell-side analysts anticipate that Moelis & Company will post 2.97 EPS for the current year.

Insiders Place Their Bets

In other Moelis & Company news, General Counsel Osamu R. Watanabe sold 2,765 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $62.23, for a total value of $172,065.95. Following the completion of the sale, the general counsel owned 4,981 shares in the company, valued at approximately $309,967.63. The trade was a 35.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Moelis & Company

Institutional investors and hedge funds have recently modified their holdings of the stock. Balyasny Asset Management L.P. purchased a new stake in Moelis & Company during the fourth quarter valued at approximately $60,857,000. Azora Capital LP purchased a new position in shares of Moelis & Company during the 2nd quarter worth $46,762,000. Norges Bank bought a new stake in shares of Moelis & Company during the 4th quarter valued at $42,919,000. The Manufacturers Life Insurance Company grew its position in shares of Moelis & Company by 1,161.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock valued at $41,231,000 after acquiring an additional 609,162 shares during the period. Finally, Wasatch Advisors LP raised its holdings in Moelis & Company by 16.1% in the 3rd quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager’s stock worth $235,654,000 after purchasing an additional 458,575 shares during the period. 91.53% of the stock is owned by hedge funds and other institutional investors.

About Moelis & Company

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.