Moelis & Co (MC) Price Target Raised to $60.00
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.
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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