Moelis & Company (NYSE:MC) Sets New 1-Year High – Here’s Why

Moelis & Company (NYSE:MC)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $77.00 and last traded at $76.70, with a volume of 5075 shares. The stock had previously closed at $68.00.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MC shares. Morgan Stanley lowered their price objective on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company started coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target on the stock. UBS Group upped their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reiterated 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. Finally, JPMorgan Chase & Co. upped their price target 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. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.83.

Moelis & Company Stock Down 0.3 %

The stock’s 50-day moving average price is $68.15 and its 200 day moving average price is $61.75. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 145.30 and a beta of 1.33.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $273.76 million during the quarter, compared to the consensus estimate of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned ($0.15) EPS. On average, research analysts predict that Moelis & Company will post 0.97 EPS for the current year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a $0.60 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.12%. Moelis & Company’s payout ratio is currently 452.83%.

Hedge Funds Weigh In On Moelis & Company

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Reston Wealth Management LLC bought a new position in shares of Moelis & Company in the third quarter valued at approximately $26,000. UMB Bank n.a. lifted its stake in Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after buying an additional 193 shares during the period. GAMMA Investing LLC boosted its holdings in Moelis & Company by 115.8% during the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock worth $68,000 after buying an additional 534 shares during the last quarter. Blue Trust Inc. grew its holdings in Moelis & Company by 193.0% during the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after purchasing an additional 712 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Moelis & Company in the 3rd quarter valued at $75,000. 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.