Moelis & Co. (MC) Downgraded to Strong Sell at Zacks Investment Research
According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “
Separately, Credit Suisse Group AG reaffirmed a hold rating on shares of Moelis & Co. in a research note on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Moelis & Co. currently has an average rating of Hold and a consensus price target of $30.22.
Shares of Moelis & Co. (NYSE:MC) opened at 24.60 on Tuesday. The firm has a 50-day moving average price of $26.11 and a 200-day moving average price of $26.20. The stock has a market cap of $506.74 million, a price-to-earnings ratio of 14.65 and a beta of 1.73. Moelis & Co. has a 1-year low of $21.91 and a 1-year high of $31.84.
Moelis & Co. (NYSE:MC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.06. The firm had revenue of $131.70 million for the quarter, compared to analyst estimates of $131.44 million. Moelis & Co. had a return on equity of 35.37% and a net margin of 6.01%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. Equities analysts forecast that Moelis & Co. will post $1.62 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Moelis & Co. by 86.3% in the first quarter. Legal & General Group Plc now owns 3,519 shares of the company’s stock worth $100,000 after buying an additional 1,630 shares during the period. BlackRock Advisors LLC raised its position in Moelis & Co. by 10.8% in the second quarter. BlackRock Advisors LLC now owns 9,460 shares of the company’s stock worth $213,000 after buying an additional 920 shares during the period. Emerald Acquisition Ltd. bought a new position in Moelis & Co. during the second quarter worth $222,000. American International Group Inc. raised its position in Moelis & Co. by 3.8% in the second quarter. American International Group Inc. now owns 10,699 shares of the company’s stock worth $241,000 after buying an additional 396 shares during the period. Finally, Clinton Group Inc. bought a new position in Moelis & Co. during the second quarter worth $246,000. 84.45% of the stock is currently owned by institutional investors.
Moelis & Co. Company Profile
Moelis & Company is an investment banking advisory firm. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. The Company advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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