Moelis & Company (NYSE:MC) Given New $87.00 Price Target at The Goldman Sachs Group

Moelis & Company (NYSE:MC) had its price objective raised by stock analysts at The Goldman Sachs Group from $79.00 to $87.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s target price points to a potential upside of 6.24% from the stock’s previous close.

A number of other brokerages have also weighed in on MC. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 price objective (up from $86.00) on shares of Moelis & Company in a report on Thursday. Morgan Stanley boosted their price objective on shares of Moelis & Company from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of Moelis & Company from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $78.83.

Moelis & Company Trading Up 2.8 %

Shares of MC stock traded up $2.21 during trading hours on Thursday, reaching $81.89. 872,779 shares of the company’s stock were exchanged, compared to its average volume of 721,579. The stock’s 50 day moving average is $75.40 and its 200-day moving average is $70.67. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 154.48 and a beta of 1.40. Moelis & Company has a fifty-two week low of $46.24 and a fifty-two week high of $82.89.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.79. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. Equities analysts anticipate that Moelis & Company will post 1.05 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MC. Trust Point Inc. raised its position in shares of Moelis & Company by 0.8% during the 3rd quarter. Trust Point Inc. now owns 18,976 shares of the asset manager’s stock worth $1,300,000 after purchasing an additional 147 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of Moelis & Company by 1.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 13,812 shares of the asset manager’s stock valued at $946,000 after buying an additional 172 shares during the period. GAMMA Investing LLC grew its stake in shares of Moelis & Company by 18.1% in the 4th quarter. GAMMA Investing LLC now owns 1,175 shares of the asset manager’s stock valued at $87,000 after buying an additional 180 shares during the period. Choreo LLC grew its stake in shares of Moelis & Company by 4.0% in the 4th quarter. Choreo LLC now owns 4,831 shares of the asset manager’s stock valued at $358,000 after buying an additional 187 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Moelis & Company by 2.7% in the 2nd quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager’s stock valued at $409,000 after buying an additional 192 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Company Profile

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, as well as strategic, capital structure, and private funds advisory.