Moelis & Company (NYSE:MC) Receives New Coverage from Analysts at Wells Fargo & Company

Equities researchers at Wells Fargo & Company assumed coverage on shares of Moelis & Company (NYSE:MC) in a note issued to investors on Thursday, Briefing.com reports. The firm set an “equal weight” rating and a $70.00 price target on the asset manager’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 11.73% from the stock’s previous close.

Several other research analysts also recently issued reports on MC. Morgan Stanley upped their target price on shares of Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Finally, UBS Group upped their target price on shares of Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.33.

Moelis & Company Stock Down 1.3 %

Shares of Moelis & Company stock opened at $62.65 on Thursday. The firm has a market cap of $4.69 billion, a PE ratio of -329.74 and a beta of 1.33. The company’s fifty day simple moving average is $63.67 and its two-hundred day simple moving average is $57.53. Moelis & Company has a 12-month low of $38.58 and a 12-month high of $70.00.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The firm had revenue of $264.59 million for the quarter, compared to analyst estimates of $227.90 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) EPS. As a group, sell-side analysts expect that Moelis & Company will post 1.09 earnings per share for the current fiscal year.

Insider Transactions at Moelis & Company

In other Moelis & Company news, CEO Kenneth Moelis sold 5,308 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the transaction, the chief executive officer now owns 86 shares in the company, valued at $5,922.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Kenneth Moelis sold 5,308 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total value of $365,561.96. Following the transaction, the chief executive officer now directly owns 86 shares in the company, valued at $5,922.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph Simon sold 6,723 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $64.00, for a total transaction of $430,272.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,526 shares of company stock worth $830,133 in the last three months. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Moelis & Company

A number of large investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC grew its position in Moelis & Company by 0.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager’s stock worth $408,836,000 after purchasing an additional 47,365 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Moelis & Company by 4.9% in the first quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock valued at $194,020,000 after purchasing an additional 159,797 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Moelis & Company by 11.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock valued at $189,404,000 after purchasing an additional 334,620 shares during the period. Madison Asset Management LLC boosted its holdings in Moelis & Company by 4.5% during the fourth quarter. Madison Asset Management LLC now owns 1,399,649 shares of the asset manager’s stock worth $78,562,000 after buying an additional 60,455 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Moelis & Company by 5.2% during the first quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock worth $63,483,000 after buying an additional 55,402 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

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.