Wells Fargo & Company Boosts Moelis & Company (NYSE:MC) Price Target to $78.00

Moelis & Company (NYSE:MC) had its target price raised by analysts at Wells Fargo & Company from $70.00 to $78.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 5.49% from the stock’s previous close.

MC has been the subject of several other research reports. UBS Group lifted their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $66.00 to $92.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $66.50.

Moelis & Company Trading Down 1.5 %

Moelis & Company stock opened at $73.94 on Thursday. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 139.51 and a beta of 1.37. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $81.60. The stock’s 50 day moving average is $72.47 and its 200-day moving average is $65.62.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The firm had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. During the same period in the prior year, the firm posted ($0.15) EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts predict that Moelis & Company will post 0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Moelis & Company

Several hedge funds and other institutional investors have recently modified their holdings of the business. Reston Wealth Management LLC bought a new position in Moelis & Company in the third quarter valued at about $26,000. UMB Bank n.a. boosted its stake in shares of Moelis & Company by 63.5% in the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 193 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 purchasing an additional 534 shares during the last quarter. Blue Trust Inc. grew its holdings 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 purchasing an additional 712 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Moelis & Company during the 3rd quarter worth approximately $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.