Bank of America Initiates Coverage on Moelis & Company (NYSE:MC)

Equities research analysts at Bank of America started coverage on shares of Moelis & Company (NYSE:MC) in a research note issued to investors on Monday, Marketbeat reports. The brokerage set a “neutral” rating and a $81.00 price target on the asset manager’s stock. Bank of America‘s price objective points to a potential upside of 10.93% from the stock’s current price.

Several other equities analysts have also recently weighed in on MC. Keefe, Bruyette & Woods cut Moelis & Company from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $78.00 to $80.00 in a report on Tuesday, December 16th. Weiss Ratings restated a “hold (c)” rating on shares of Moelis & Company in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Moelis & Company in a research report on Thursday, October 9th. They set a “buy” rating and a $80.00 price target on the stock. UBS Group raised their target price on shares of Moelis & Company from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Finally, BMO Capital Markets assumed coverage on shares of Moelis & Company in a report on Friday, October 3rd. They set a “market perform” rating and a $74.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.00.

Moelis & Company Stock Down 0.8%

Shares of NYSE:MC traded down $0.62 during midday trading on Monday, reaching $73.02. 76,299 shares of the company were exchanged, compared to its average volume of 715,364. The firm has a market cap of $5.72 billion, a PE ratio of 24.49, a P/E/G ratio of 0.59 and a beta of 1.85. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89. The stock has a fifty day simple moving average of $69.73 and a two-hundred day simple moving average of $69.88.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, October 29th. The asset manager reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.11. Moelis & Company had a return on equity of 45.62% and a net margin of 15.98%.The firm had revenue of $356.89 million during the quarter, compared to the consensus estimate of $336.14 million. During the same quarter in the prior year, the firm posted $0.22 EPS. The business’s revenue was up 30.4% on a year-over-year basis. As a group, analysts forecast that Moelis & Company will post 2.97 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AE Wealth Management LLC acquired a new position in Moelis & Company during the 2nd quarter worth approximately $207,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Moelis & Company by 5.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 354,658 shares of the asset manager’s stock worth $23,691,000 after buying an additional 17,740 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Moelis & Company by 21.2% during the second quarter. State of New Jersey Common Pension Fund D now owns 33,294 shares of the asset manager’s stock worth $2,075,000 after buying an additional 5,819 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Moelis & Company by 22.2% during the second quarter. Janney Montgomery Scott LLC now owns 26,619 shares of the asset manager’s stock worth $1,659,000 after buying an additional 4,828 shares in the last quarter. Finally, Moran Wealth Management LLC bought a new position in shares of Moelis & Company in the 2nd quarter valued at $2,358,000. Institutional investors own 91.53% of the company’s stock.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.