Moelis & Company (NYSE:MC) had its price objective hoisted by Morgan Stanley from $63.00 to $68.00 in a research report report published on Monday, Price Targets.com reports. They currently have an equal weight rating on the asset manager’s stock.
MC has been the topic of a number of other reports. Wolfe Research raised Moelis & Company from an underperform rating to a peer perform rating and set a $63.00 price objective on the stock in a report on Thursday, June 17th. Zacks Investment Research downgraded Moelis & Company from a buy rating to a hold rating and set a $64.00 target price for the company. in a research report on Tuesday, September 21st. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $61.50.
Shares of NYSE MC opened at $68.07 on Monday. The stock’s fifty day moving average price is $62.77 and its two-hundred day moving average price is $57.72. Moelis & Company has a one year low of $35.86 and a one year high of $69.64. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 14.54 and a beta of 1.21.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Investors of record on Monday, August 2nd were given a dividend of $0.60 per share. This is an increase from Moelis & Company’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, July 30th. Moelis & Company’s dividend payout ratio is currently 82.47%.
Several hedge funds have recently made changes to their positions in the stock. Citigroup Inc. lifted its position in shares of Moelis & Company by 0.8% during the 2nd quarter. Citigroup Inc. now owns 23,645 shares of the asset manager’s stock worth $1,345,000 after buying an additional 199 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Moelis & Company by 8.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,797 shares of the asset manager’s stock worth $273,000 after purchasing an additional 371 shares in the last quarter. IndexIQ Advisors LLC increased its holdings in Moelis & Company by 5.4% in the 2nd quarter. IndexIQ Advisors LLC now owns 7,646 shares of the asset manager’s stock worth $435,000 after purchasing an additional 390 shares in the last quarter. Legal & General Group Plc increased its holdings in Moelis & Company by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 41,140 shares of the asset manager’s stock worth $2,340,000 after purchasing an additional 434 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Moelis & Company by 0.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 68,859 shares of the asset manager’s stock worth $3,917,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 84.81% 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.
Read More: Why is cost of goods sold important?
Receive News & Ratings for Moelis & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Company and related companies with MarketBeat.com's FREE daily email newsletter.