Moelis & Company (NYSE:MC) Posts Earnings Results

Moelis & Company (NYSE:MC) announced its earnings results on Wednesday. The asset manager reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01, FiscalAI reports. Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The firm had revenue of $409.39 million during the quarter, compared to analyst estimates of $387.27 million.

Moelis & Company Stock Down 4.7%

Moelis & Company stock traded down $3.25 during trading hours on Wednesday, hitting $65.34. The stock had a trading volume of 1,245,348 shares, compared to its average volume of 1,097,144. The stock has a market capitalization of $5.13 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 0.86 and a beta of 1.85. Moelis & Company has a 12-month low of $51.06 and a 12-month high of $78.22. The stock’s 50-day moving average price is $67.15 and its 200-day moving average price is $65.40.

Analyst Upgrades and Downgrades

Several brokerages have commented on MC. UBS Group reissued a “sell” rating and set a $60.00 price objective (up from $58.00) on shares of Moelis & Company in a research report on Wednesday, July 8th. Wall Street Zen downgraded shares of Moelis & Company from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Morgan Stanley decreased their price target on shares of Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Weiss Ratings cut shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Friday, July 10th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System boosted its position in shares of Moelis & Company by 0.3% during the second quarter. California State Teachers Retirement System now owns 69,155 shares of the asset manager’s stock valued at $4,310,000 after buying an additional 209 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in Moelis & Company by 2.3% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,906 shares of the asset manager’s stock valued at $750,000 after acquiring an additional 242 shares during the period. Allworth Financial LP lifted its stake in Moelis & Company by 153.9% during the 3rd quarter. Allworth Financial LP now owns 419 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 254 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Moelis & Company by 0.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 76,913 shares of the asset manager’s stock valued at $4,795,000 after acquiring an additional 262 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Moelis & Company by 89.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 597 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 282 shares during the last quarter. 91.53% of the stock is owned by institutional investors.

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.