UBS Group Boosts Moelis & Company (NYSE:MC) Price Target to $50.00

Moelis & Company (NYSE:MC) had its price objective increased by UBS Group from $47.00 to $50.00 in a research report sent to investors on Tuesday morning, Benzinga reports. UBS Group currently has a sell rating on the asset manager’s stock.

MC has been the subject of several other research reports. Keefe, Bruyette & Woods reissued a market perform rating and set a $54.00 price target (down previously from $58.00) on shares of Moelis & Company in a research report on Thursday, April 25th. The Goldman Sachs Group raised shares of Moelis & Company from a sell rating to a neutral rating and raised their price target for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. Finally, JMP Securities reaffirmed a market perform rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $50.00.

Moelis & Company Stock Up 1.5 %

Shares of MC opened at $61.02 on Tuesday. The company has a market capitalization of $4.56 billion, a P/E ratio of -321.16 and a beta of 1.35. The firm has a 50 day moving average of $55.48 and a 200 day moving average of $54.72. Moelis & Company has a twelve month low of $38.58 and a twelve month high of $61.63.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.11. The company had revenue of $217.49 million during the quarter, compared to the consensus estimate of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 earnings per share. On average, sell-side analysts expect that Moelis & Company will post 1.22 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, May 6th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Friday, May 3rd. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Insider Transactions at Moelis & Company

In other news, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the transaction, the chief executive officer now owns 42,441 shares in the company, valued at approximately $2,290,965.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Navid Mahmoodzadegan sold 44,980 shares of Moelis & Company stock in a transaction on Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the transaction, the chief executive officer now owns 42,441 shares in the company, valued at approximately $2,290,965.18. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Blue Zone Wealth Advisors LLC increased its holdings in Moelis & Company by 2.6% in the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 58,054 shares of the asset manager’s stock valued at $3,301,000 after acquiring an additional 1,459 shares during the last quarter. Curated Wealth Partners LLC increased its holdings in Moelis & Company by 197.3% in the 2nd quarter. Curated Wealth Partners LLC now owns 8,987 shares of the asset manager’s stock valued at $511,000 after acquiring an additional 18,221 shares during the last quarter. SG Americas Securities LLC increased its holdings in Moelis & Company by 42.9% in the 2nd quarter. SG Americas Securities LLC now owns 6,007 shares of the asset manager’s stock valued at $342,000 after acquiring an additional 1,804 shares during the last quarter. SkyView Investment Advisors LLC bought a new stake in Moelis & Company in the 1st quarter valued at $776,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Moelis & Company in the 1st quarter valued at $256,000. Hedge funds and other institutional investors 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.