Moelis & Co. (MC) Sees Unusually-High Trading Volume
Moelis & Co. (NYSE:MC) shares saw unusually-high trading volume on Friday . Approximately 79,890 shares changed hands during trading, a decline of 9% from the previous session’s volume of 87,994 shares.The stock last traded at $26.24 and had previously closed at $26.04.
MC has been the topic of several analyst reports. Morgan Stanley reaffirmed a “buy” rating on shares of Moelis & Co. in a research report on Tuesday, June 7th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Moelis & Co. in a research report on Tuesday, June 28th. Finally, Zacks Investment Research raised shares of Moelis & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.78.
The stock has a market cap of $539.49 million and a P/E ratio of 15.60. The stock’s 50 day moving average price is $25.10 and its 200 day moving average price is $26.03.
Moelis & Co. (NYSE:MC) last issued its earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.06. The company earned $131.70 million during the quarter, compared to analysts’ expectations of $131.44 million. During the same period last year, the business posted $0.37 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Moelis & Co. will post $1.66 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd will be given a $0.30 dividend. The ex-dividend date is Thursday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 4.58%.
A hedge fund recently raised its stake in Moelis & Co. stock. Jennison Associates LLC raised its stake in shares of Moelis & Co. (NYSE:MC) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,646,210 shares of the company’s stock after buying an additional 128,125 shares during the period. Jennison Associates LLC owned approximately 10.86% of Moelis & Co. worth $48,036,000 at the end of the most recent reporting period.
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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