Several other research analysts have also recently weighed in on MC. Zacks Investment Research upgraded shares of Hope Bancorp from a sell rating to a hold rating in a report on Wednesday, April 17th. Morgan Stanley set a $36.00 price target on shares of ArcBest and gave the company a hold rating in a report on Monday, July 8th. Bank of America set a $7.00 price target on shares of Deutsche Bank and gave the company a sell rating in a report on Thursday, April 11th. JMP Securities upped their price target on shares of Stifel Financial from $61.00 to $65.00 and gave the company a market outperform rating in a report on Monday, April 8th. Finally, Buckingham Research reduced their price target on shares of PJT Partners from $49.00 to $42.00 and set a neutral rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $50.56.
Shares of NYSE:MC opened at $34.39 on Thursday. Moelis & Co has a 52 week low of $31.64 and a 52 week high of $65.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 10.48 and a quick ratio of 10.48. The company has a market capitalization of $2.05 billion, a P/E ratio of 14.09, a PEG ratio of 1.37 and a beta of 1.97. The firm has a 50 day moving average price of $33.66.
Moelis & Co (NYSE:MC) last issued its earnings results on Tuesday, April 30th. The asset manager reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.08. The firm had revenue of $137.78 million during the quarter, compared to the consensus estimate of $141.54 million. Moelis & Co had a net margin of 15.04% and a return on equity of 49.19%. The business’s quarterly revenue was down 37.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. As a group, equities analysts forecast that Moelis & Co will post 2.29 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Friday, May 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend was Thursday, May 9th. Moelis & Co’s dividend payout ratio (DPR) is presently 66.67%.
In related news, COO Elizabeth Crain sold 31,669 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.13, for a total transaction of $1,017,524.97. Following the completion of the transaction, the chief operating officer now owns 38,638 shares in the company, valued at $1,241,438.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Callesano sold 3,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $38.00, for a total transaction of $133,000.00. Following the transaction, the insider now owns 7,269 shares of the company’s stock, valued at approximately $276,222. The disclosure for this sale can be found here. Insiders sold 227,181 shares of company stock valued at $8,350,975 in the last quarter. Corporate insiders own 19.67% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in MC. Sageworth Trust Co acquired a new position in Moelis & Co during the first quarter worth $28,000. Hilton Capital Management LLC acquired a new position in Moelis & Co during the first quarter worth $101,000. NumerixS Investment Technologies Inc acquired a new position in Moelis & Co during the fourth quarter worth $113,000. Great West Life Assurance Co. Can boosted its holdings in Moelis & Co by 44.7% during the fourth quarter. Great West Life Assurance Co. Can now owns 5,763 shares of the asset manager’s stock worth $190,000 after purchasing an additional 1,779 shares during the last quarter. Finally, GYL Financial Synergies LLC acquired a new position in Moelis & Co during the first quarter worth $204,000. Institutional investors and hedge funds own 74.66% of the company’s stock.
About Moelis & Co
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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