Moelis & Company (NYSE:MC) Sees Strong Trading Volume

Moelis & Company (NYSE:MCGet Rating) saw an uptick in trading volume on Friday . 26,702 shares were traded during trading, a decline of 94% from the previous session’s volume of 431,804 shares.The stock last traded at $34.13 and had previously closed at $37.04.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler decreased their target price on shares of Moelis & Company from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, July 8th. Wolfe Research downgraded Moelis & Company from a “peer perform” rating to an “underperform” rating and set a $42.00 price objective on the stock. in a research report on Monday, July 11th. Morgan Stanley cut Moelis & Company from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $53.00 to $36.00 in a research report on Monday, July 18th. Finally, UBS Group cut Moelis & Company from a “neutral” rating to a “sell” rating and lowered their price target for the company from $43.00 to $35.00 in a report on Friday. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.33.

Moelis & Company Stock Down 7.3 %

The stock has a 50-day simple moving average of $43.13 and a two-hundred day simple moving average of $43.56. The firm has a market cap of $2.36 billion, a PE ratio of 7.93 and a beta of 1.29.

Moelis & Company (NYSE:MCGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The asset manager reported $0.57 EPS for the quarter, beating the consensus estimate of $0.41 by $0.16. The firm had revenue of $242.52 million for the quarter, compared to analyst estimates of $199.79 million. Moelis & Company had a return on equity of 76.91% and a net margin of 22.19%. The company’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 EPS. Research analysts expect that Moelis & Company will post 2.75 earnings per share for the current year.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Monday, August 8th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.99%. Moelis & Company’s payout ratio is 51.39%.

Institutional Trading of Moelis & Company

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Moelis & Company by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 6,645,142 shares of the asset manager’s stock valued at $311,989,000 after acquiring an additional 225,659 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Moelis & Company by 14.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,135,784 shares of the asset manager’s stock valued at $241,443,000 after purchasing an additional 757,607 shares during the period. BlackRock Inc. grew its holdings in shares of Moelis & Company by 4.6% in the first quarter. BlackRock Inc. now owns 4,792,004 shares of the asset manager’s stock worth $224,984,000 after purchasing an additional 211,221 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Moelis & Company by 21.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,539,942 shares of the asset manager’s stock worth $158,772,000 after buying an additional 441,909 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Moelis & Company by 6.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,518,106 shares of the asset manager’s stock valued at $99,089,000 after buying an additional 163,205 shares during the last quarter. 90.87% of the stock is owned by institutional investors.

About Moelis & Company

(Get Rating)

Moelis & Company operates as an investment banking advisory firm. 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, governments, and sovereign wealth funds.

Featured Stories

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.