Wells Fargo & Company Has Lowered Expectations for Moelis & Company (NYSE:MC) Stock Price

Moelis & Company (NYSE:MC) had its price objective lowered by stock analysts at Wells Fargo & Company from $78.00 to $77.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.60% from the stock’s current price.

A number of other analysts also recently issued reports on MC. Keefe, Bruyette & Woods raised shares of Moelis & Company from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $71.00 to $86.00 in a research report on Friday, December 20th. UBS Group increased their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised shares of Moelis & Company from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $66.00 to $92.00 in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.67.

Moelis & Company Stock Up 1.2 %

Shares of MC stock traded up $0.84 during trading hours on Tuesday, hitting $71.56. 13,267 shares of the company were exchanged, compared to its average volume of 811,565. The firm has a market cap of $5.36 billion, a PE ratio of 135.02 and a beta of 1.39. Moelis & Company has a 1 year low of $46.24 and a 1 year high of $81.60. The firm has a fifty day moving average of $74.81 and a 200 day moving average of $68.72.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $273.76 million during the quarter, compared to the consensus estimate of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.15) EPS. Analysts expect that Moelis & Company will post 0.96 earnings per share for the current year.

Hedge Funds Weigh In On Moelis & Company

Several institutional investors and hedge funds have recently made changes to their positions in MC. Reston Wealth Management LLC purchased a new position in shares of Moelis & Company during the 3rd quarter valued at approximately $26,000. GAMMA Investing LLC boosted its stake in shares of Moelis & Company by 115.8% during the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after buying an additional 534 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Moelis & Company by 193.0% during the 3rd quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after buying an additional 712 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Moelis & Company during the 3rd quarter valued at approximately $75,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Moelis & Company by 75.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the asset manager’s stock valued at $83,000 after buying an additional 629 shares during the last quarter. 91.53% of the stock is currently owned by hedge funds and other institutional investors.

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.