Zacks Investment Research Upgrades Moelis & Co (MC) to Buy

Moelis & Co (NYSE:MC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $58.00 target price on the asset manager’s stock. Zacks Investment Research‘s target price suggests a potential upside of 8.01% from the company’s previous close.

According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “

MC has been the topic of a number of other research reports. UBS Group increased their target price on Moelis & Co from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. JMP Securities increased their target price on Moelis & Co from $44.00 to $47.00 and gave the company a “market outperform” rating in a research note on Thursday, October 26th. Morgan Stanley increased their target price on Moelis & Co from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. ValuEngine raised Moelis & Co from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Bank of America increased their target price on Moelis & Co from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $50.67.

Moelis & Co (NYSE MC) opened at $53.70 on Tuesday. The firm has a market cap of $2,816.48, a price-to-earnings ratio of 23.08, a PEG ratio of 1.32 and a beta of 1.85. Moelis & Co has a 1-year low of $34.60 and a 1-year high of $54.15.

Moelis & Co (NYSE:MC) last released its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. The firm had revenue of $169.17 million for the quarter, compared to analysts’ expectations of $160.22 million. Moelis & Co had a net margin of 4.29% and a return on equity of 48.98%. The business’s quarterly revenue was down 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. equities analysts predict that Moelis & Co will post 2.73 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Inc. bought a new position in Moelis & Co in the third quarter valued at $138,000. Great West Life Assurance Co. Can boosted its position in Moelis & Co by 69.3% during the third quarter. Great West Life Assurance Co. Can now owns 3,523 shares of the asset manager’s stock valued at $152,000 after buying an additional 1,442 shares during the period. First Republic Investment Management Inc. purchased a new stake in Moelis & Co during the fourth quarter valued at about $200,000. Cubist Systematic Strategies LLC purchased a new stake in Moelis & Co during the second quarter valued at about $203,000. Finally, Highbridge Capital Management LLC purchased a new stake in Moelis & Co during the third quarter valued at about $204,000. 56.12% of the stock is currently owned by institutional investors and hedge funds.

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Moelis & Co Company Profile

Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.

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