Moelis & Company (NYSE:MC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports. They presently have a $58.00 price target on the asset manager’s stock. Zacks Investment Research‘s target price suggests a potential upside of 7.45% from the company’s previous close.
According to Zacks, “Moelis & Company's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters. Its first-quarter 2021 results reflected higher revenues. The company’s strong organic growth initiatives, driven by global expansion initiatives along with diverse operations across sectors and industries, bode well for the future. Given the solid balance sheet and liquidity positions, Moelis & Company is expected to continue enhancing shareholder value through efficient capital deployments. Also, solid merger and acquisitions (M&As), and restructuring activities across the globe will act as tailwinds. However, persistently increasing expenses will likely hurt profits. A tough operating backdrop is expected to hamper the company’s financials. Its shares have underperformed the industry over the past twelve months.”
A number of other research analysts have also commented on the company. Piper Sandler upped their price target on Moelis & Company from $58.00 to $68.00 in a research report on Tuesday, March 16th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Thursday, April 15th. Finally, Morgan Stanley upped their price target on Moelis & Company from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $46.33.
Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, April 28th. The asset manager reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.15. The business had revenue of $263.87 million during the quarter, compared to analyst estimates of $241.32 million. Moelis & Company had a return on equity of 56.19% and a net margin of 20.91%. Moelis & Company’s quarterly revenue was up 71.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 EPS. On average, research analysts expect that Moelis & Company will post 3.18 EPS for the current year.
In related news, CEO Kenneth Moelis sold 800 shares of the company’s stock in a transaction that occurred on Wednesday, April 7th. The stock was sold at an average price of $57.12, for a total value of $45,696.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Elizabeth Crain sold 13,384 shares of the company’s stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $56.25, for a total value of $752,850.00. Following the completion of the sale, the chief operating officer now owns 13,383 shares in the company, valued at approximately $752,793.75. The disclosure for this sale can be found here. Insiders have sold a total of 443,265 shares of company stock worth $24,994,325 in the last quarter. Company insiders own 8.46% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. purchased a new stake in shares of Moelis & Company in the 1st quarter worth approximately $37,000. Maverick Capital Ltd. purchased a new stake in Moelis & Company during the 1st quarter valued at $53,000. Eaton Vance Management purchased a new stake in Moelis & Company during the 1st quarter valued at $67,000. Fieldpoint Private Securities LLC purchased a new stake in Moelis & Company during the 1st quarter valued at $68,000. Finally, Graves Light Private Wealth Management Inc. purchased a new stake in Moelis & Company during the 4th quarter valued at $63,000. Institutional investors own 89.04% of the company’s stock.
Moelis & Company Company Profile
Moelis & Company operates as an investment banking advisory firm in the United States, Europe, and internationally. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, and governments.
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