Wells Fargo & Company Lowers Moelis & Company (NYSE:MC) Price Target to $77.00

Moelis & Company (NYSE:MC - Get Free Report) had its price target dropped by equities research analysts at Wells Fargo & Company from $78.00 to $77.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's price objective suggests a potential upside of 5.78% from the stock's current price.

Several other equities research analysts have also recently issued reports on the company. Morgan Stanley upgraded Moelis & Company from an "underweight" rating to an "overweight" rating and boosted their price target for the company from $66.00 to $92.00 in a research note on Monday, December 9th. UBS Group increased their target price on Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods raised Moelis & Company from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $71.00 to $86.00 in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $70.67.

Moelis & Company Trading Up 2.9 %

MC stock traded up $2.07 during trading hours on Tuesday, hitting $72.79. 633,470 shares of the stock were exchanged, compared to its average volume of 888,959. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $81.60. The firm has a market capitalization of $5.45 billion, a P/E ratio of 137.34 and a beta of 1.39. The company has a 50-day simple moving average of $74.91 and a two-hundred day simple moving average of $68.83.

Moelis & Company (NYSE:MC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $273.76 million during the quarter, compared to analysts' expectations of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The business's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.15) EPS. On average, equities research analysts predict that Moelis & Company will post 0.96 earnings per share for the current year.

Institutional Investors Weigh In On Moelis & Company

Hedge funds have recently made changes to their positions in the stock. Heritage Family Offices LLP increased its holdings in Moelis & Company by 5.0% in the 4th quarter. Heritage Family Offices LLP now owns 4,464 shares of the asset manager's stock worth $330,000 after purchasing an additional 213 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Moelis & Company by 7.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 768,945 shares of the asset manager's stock valued at $56,810,000 after buying an additional 53,473 shares during the period. Fulton Bank N.A. increased its stake in shares of Moelis & Company by 100.4% in the fourth quarter. Fulton Bank N.A. now owns 6,043 shares of the asset manager's stock valued at $446,000 after buying an additional 3,027 shares during the period. GAMMA Investing LLC raised its holdings in Moelis & Company by 18.1% in the 4th quarter. GAMMA Investing LLC now owns 1,175 shares of the asset manager's stock valued at $87,000 after buying an additional 180 shares during the last quarter. Finally, DGS Capital Management LLC acquired a new stake in Moelis & Company during the 3rd quarter worth approximately $202,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

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.