Wall Street Zen Upgrades Moelis & Company (NYSE:MC) to “Hold”

Moelis & Company (NYSE:MC) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other equities analysts have also issued reports about the company. Zacks Research raised Moelis & Company from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Morgan Stanley lifted their price target on Moelis & Company from $83.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods cut their price objective on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a research report on Friday, July 10th. Weiss Ratings downgraded Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Finally, UBS Group reaffirmed a “sell” rating and set a $60.00 target price (up from $58.00) on shares of Moelis & Company in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.62.

Moelis & Company Stock Performance

Moelis & Company stock opened at $67.08 on Friday. Moelis & Company has a fifty-two week low of $51.06 and a fifty-two week high of $78.22. The stock has a market cap of $5.27 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 0.86 and a beta of 1.84. The firm’s 50-day simple moving average is $67.25 and its 200 day simple moving average is $65.24.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. Moelis & Company had a net margin of 14.50% and a return on equity of 39.59%. The firm had revenue of $409.39 million during the quarter, compared to analyst estimates of $387.27 million. During the same quarter last year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, analysts predict that Moelis & Company will post 3.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Moelis & Company

Institutional investors have recently bought and sold shares of the company. Fulton Bank N.A. grew its holdings in Moelis & Company by 12.5% during the second quarter. Fulton Bank N.A. now owns 6,931 shares of the asset manager’s stock valued at $453,000 after purchasing an additional 768 shares during the period. Allied Private Wealth LLC bought a new position in shares of Moelis & Company during the 2nd quarter worth $25,000. Hennion & Walsh Asset Management Inc. increased its holdings in Moelis & Company by 2.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 20,525 shares of the asset manager’s stock worth $1,343,000 after acquiring an additional 474 shares during the last quarter. GAMMA Investing LLC increased its holdings in Moelis & Company by 11.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,489 shares of the asset manager’s stock worth $97,000 after acquiring an additional 153 shares during the last quarter. Finally, Central Pacific Bank Trust Division raised its stake in Moelis & Company by 8.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 2,690 shares of the asset manager’s stock valued at $176,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Company Profile

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.