Moelis & Co. (MC) Shares Up 3.9%
Moelis & Co. (NYSE:MC)’s share price shot up 3.9% on Thursday . The company traded as high as $25.29 and last traded at $25.04, with a volume of 91,817 shares. The stock had previously closed at $24.10.
A number of research firms have recently weighed in on MC. Zacks Investment Research cut Moelis & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, April 20th. Morgan Stanley reiterated a “buy” rating on shares of Moelis & Co. in a report on Tuesday, June 7th. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Moelis & Co. in a report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Moelis & Co. currently has a consensus rating of “Hold” and an average price target of $30.78.
The stock’s 50 day moving average price is $25.02 and its 200-day moving average price is $26.09. The company has a market cap of $380.39 million and a P/E ratio of 14.75.
Moelis & Co. (NYSE:MC) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.03. The firm earned $126.36 million during the quarter, compared to the consensus estimate of $132.57 million. During the same period last year, the business posted $0.28 earnings per share. The firm’s revenue was up 27.1% on a year-over-year basis. On average, equities research analysts expect that Moelis & Co. will post $1.64 earnings per share for the current fiscal year.
Other institutional investors recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in Moelis & Co. by 5.4% in the fourth quarter. Wells Fargo & Company MN now owns 52,011 shares of the company’s stock worth $1,517,000 after buying an additional 2,646 shares during the period. Royce & Associates LLC raised its position in Moelis & Co. by 243.9% in the fourth quarter. Royce & Associates LLC now owns 949,413 shares of the company’s stock valued at $27,704,000 after buying an additional 673,330 shares during the last quarter. Jennison Associates LLC raised its position in Moelis & Co. by 8.4% in the fourth quarter. Jennison Associates LLC now owns 1,646,210 shares of the company’s stock valued at $48,036,000 after buying an additional 128,125 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Moelis & Co. by 145.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 126,394 shares of the company’s stock valued at $3,688,000 after buying an additional 74,860 shares during the last quarter.
Moelis & Company is an investment bank that provides strategic and financial advice to a client base, including corporations, Governments and financial sponsors. The Company assists its clients in achieving their strategic goals by offering financial advisory services across all industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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