Moelis & Company (NYSE:MC) Given New $87.00 Price Target at The Goldman Sachs Group

Moelis & Company (NYSE:MC) had its price target raised by equities research analysts at The Goldman Sachs Group from $79.00 to $87.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 6.24% from the company’s previous close.

MC has been the subject of several other research reports. Morgan Stanley lifted their price target on Moelis & Company from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $92.00 price target (up previously from $86.00) on shares of Moelis & Company in a research report on Thursday. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research report on Thursday. Finally, Wells Fargo & Company boosted their target price on Moelis & Company from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Moelis & Company presently has an average rating of “Hold” and a consensus target price of $78.83.

Moelis & Company Price Performance

Shares of Moelis & Company stock traded up $2.21 during trading on Thursday, reaching $81.89. 872,779 shares of the stock traded hands, compared to its average volume of 721,579. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 154.48 and a beta of 1.40. The business has a fifty day simple moving average of $75.40 and a two-hundred day simple moving average of $70.67. Moelis & Company has a 52-week low of $46.24 and a 52-week high of $82.89.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.79. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. On average, research analysts predict that Moelis & Company will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of Moelis & Company

Institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. bought a new position in Moelis & Company in the third quarter worth approximately $49,017,000. Fisher Asset Management LLC raised its stake in Moelis & Company by 252.8% in the fourth quarter. Fisher Asset Management LLC now owns 220,770 shares of the asset manager’s stock worth $16,310,000 after buying an additional 158,200 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Moelis & Company in the fourth quarter worth approximately $10,158,000. Hodges Capital Management Inc. bought a new position in Moelis & Company in the fourth quarter worth approximately $9,149,000. Finally, Pier Capital LLC bought a new position in Moelis & Company in the third quarter worth approximately $8,152,000. Institutional investors own 91.53% of the company’s stock.

About Moelis & Company

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.