Moelis & Company (NYSE:MC) PT Lowered to $66.00 at Morgan Stanley

Moelis & Company (NYSE:MC) had its price objective cut by Morgan Stanley from $67.00 to $66.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an underweight rating on the asset manager’s stock.

MC has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company initiated coverage on Moelis & Company in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. UBS Group lifted their target price on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 target price (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Moelis & Company has a consensus rating of “Hold” and an average target price of $60.83.

Moelis & Company Stock Down 1.6 %

MC opened at $65.89 on Thursday. Moelis & Company has a 52 week low of $39.08 and a 52 week high of $72.80. The business’s 50 day moving average is $67.53 and its two-hundred day moving average is $60.71. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 439.27 and a beta of 1.33.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The business had revenue of $273.76 million for the quarter, compared to analysts’ expectations of $273.58 million. During the same period in the previous year, the company posted ($0.15) EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts expect that Moelis & Company will post 0.98 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s payout ratio is 1,600.00%.

Insider Activity

In related news, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the sale, the director now directly owns 9,372 shares in the company, valued at $649,385.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Kenneth Shropshire sold 495 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the completion of the sale, the director now owns 9,372 shares in the company, valued at $649,385.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kenneth Moelis sold 5,308 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the sale, the chief executive officer now directly owns 86 shares in the company, valued at approximately $5,922.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Moelis & Company

A number of institutional investors and hedge funds have recently modified their holdings of the company. Trust Point Inc. boosted its position in Moelis & Company by 0.8% during the third 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 in the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Moelis & Company by 1.4% during the 2nd quarter. SkyView Investment Advisors LLC now owns 13,866 shares of the asset manager’s stock worth $788,000 after buying an additional 188 shares during the last quarter. Bank of Montreal Can boosted its position 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 worth $409,000 after buying an additional 192 shares in the last quarter. UMB Bank n.a. grew its stake in Moelis & Company by 63.5% in the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 193 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Moelis & Company by 3.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,390 shares of the asset manager’s stock valued at $363,000 after acquiring an additional 193 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

About Moelis & Company

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.