Moelis & Co (NYSE:MC) had its target price boosted by analysts at Morgan Stanley from $49.00 to $60.00 in a research note issued to investors on Friday. The brokerage presently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s target price would indicate a potential upside of 16.17% from the company’s previous close.

MC has been the subject of several other research reports. Zacks Investment Research upgraded shares of Moelis & Co from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, November 29th. ValuEngine upgraded shares of Moelis & Co from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. UBS Group increased their price objective on shares of Moelis & Co from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. JMP Securities raised their target price on shares of Moelis & Co from $44.00 to $47.00 and gave the stock a “market outperform” rating in a report on Thursday, October 26th. Finally, Bank of America raised their target price on shares of Moelis & Co from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday. Three 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 target price of $50.17.

Shares of Moelis & Co (NYSE:MC) traded down $0.35 during midday trading on Friday, hitting $51.65. 456,020 shares of the stock were exchanged, compared to its average volume of 248,378. The stock has a market capitalization of $2,760.00, a PE ratio of 64.19, a PEG ratio of 1.31 and a beta of 1.85. Moelis & Co has a 1 year low of $34.60 and a 1 year high of $52.95.

Moelis & Co (NYSE:MC) last announced its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.10. The firm had revenue of $169.17 million during the quarter, compared to analysts’ expectations of $160.22 million. Moelis & Co had a net margin of 4.29% and a return on equity of 48.98%. The company’s revenue for the quarter was down 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 earnings per share. analysts forecast that Moelis & Co will post 2.62 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Moelis & Co by 6.4% in the 2nd quarter. BlackRock Inc. now owns 2,379,872 shares of the asset manager’s stock worth $92,458,000 after acquiring an additional 142,321 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Moelis & Co by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,039,429 shares of the asset manager’s stock valued at $79,233,000 after buying an additional 119,368 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Moelis & Co by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,486,795 shares of the asset manager’s stock valued at $64,378,000 after buying an additional 19,377 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Moelis & Co by 0.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 805,286 shares of the asset manager’s stock valued at $34,669,000 after buying an additional 3,106 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Moelis & Co by 7.5% during the 4th quarter. Jennison Associates LLC now owns 750,764 shares of the asset manager’s stock valued at $36,412,000 after buying an additional 52,521 shares in the last quarter. Hedge funds and other institutional investors own 56.49% of the company’s stock.

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Moelis & Co Company Profile

Moelis & Company is an investment banking advisory company. 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. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.

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