Moelis & Company (NYSE:MC) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Moelis & Company (NYSE:MC) had its price objective lowered by JPMorgan Chase & Co. from $70.00 to $68.00 in a research report released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

MC has been the subject of a number of other research reports. Weiss Ratings downgraded shares of Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 16th. Wall Street Zen raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods raised shares of Moelis & Company from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, October 7th. Morgan Stanley reduced their price objective on shares of Moelis & Company from $85.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, October 8th. Finally, UBS Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $60.00 to $59.00 in a report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $68.83.

Moelis & Company Stock Up 2.8%

Shares of MC opened at $59.92 on Tuesday. The stock has a market capitalization of $4.69 billion, a P/E ratio of 19.83, a P/E/G ratio of 2.45 and a beta of 1.91. Moelis & Company has a twelve month low of $51.06 and a twelve month high of $78.22. The company has a 50 day moving average of $60.39 and a 200-day moving average of $64.17.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Moelis & Company had a net margin of 14.50% and a return on equity of 39.59%. The company had revenue of $409.39 million for the quarter, compared to the consensus estimate of $387.27 million. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Moelis & Company will post 3.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Moelis & Company news, Director Kenneth Shropshire sold 1,881 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $69.06, for a total value of $129,901.86. Following the completion of the sale, the director owned 7,633 shares in the company, valued at $527,134.98. This trade represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Osamu R. Watanabe sold 4,850 shares of Moelis & Company stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $69.30, for a total transaction of $336,105.00. Following the completion of the transaction, the general counsel directly owned 131 shares of the company’s stock, valued at approximately $9,078.30. This trade represents a 97.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Moelis & Company

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allied Private Wealth LLC acquired a new position in shares of Moelis & Company in the 2nd quarter valued at approximately $25,000. Root Financial Partners LLC lifted its holdings in shares of Moelis & Company by 292.2% during the 1st quarter. Root Financial Partners LLC now owns 455 shares of the asset manager’s stock worth $26,000 after acquiring an additional 339 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Moelis & Company by 166.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 788 shares of the asset manager’s stock worth $45,000 after acquiring an additional 492 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Moelis & Company during the 1st quarter worth approximately $51,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Moelis & Company by 44.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,183 shares of the asset manager’s stock worth $67,000 after acquiring an additional 363 shares in the last quarter. 91.53% of the stock is owned by institutional investors.

About Moelis & Company

Moelis & Company (NYSE: MC) is an independent global investment bank that provides strategic and financial advisory services to corporations, financial sponsors, governments and other institutions. Its advisory platform focuses on mergers and acquisitions, recapitalizations, restructurings, capital raising and other complex corporate finance matters.

The firm advises clients across a range of industries, including technology, media and telecommunications; financial services; consumer and retail; energy and infrastructure; healthcare; and industrials.