Moelis & Company (NYSE:MC) Stock Rating Lowered by The Goldman Sachs Group

Moelis & Company (NYSE:MC – Get Rating) was downgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Wednesday, Briefing.com reports. They presently have a $37.00 price objective on the asset manager’s stock, down from their previous price objective of $40.00. The Goldman Sachs Group’s price target would indicate a potential downside of 15.70% from the stock’s previous close.

MC has been the topic of a number of other reports. StockNews.com began coverage on shares of Moelis & Company in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. UBS Group dropped their target price on shares of Moelis & Company from $32.00 to $30.00 and set a “sell” rating on the stock in a report on Monday. Keefe, Bruyette & Woods cut shares of Moelis & Company from a “market perform” rating to an “underperform” rating and dropped their target price for the company from $40.00 to $37.00 in a report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Moelis & Company from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 3rd. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $38.14.

Moelis & Company Price Performance

Moelis & Company stock opened at $43.89 on Wednesday. The firm has a 50-day moving average of $41.63 and a 200-day moving average of $41.16. Moelis & Company has a one year low of $33.12 and a one year high of $63.57. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 13.38 and a beta of 1.39.

Moelis & Company (NYSE:MC – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The asset manager reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. Moelis & Company had a net margin of 19.06% and a return on equity of 55.92%. The company had revenue of $233.51 million during the quarter, compared to the consensus estimate of $208.42 million. As a group, sell-side analysts expect that Moelis & Company will post 2.43 earnings per share for the current year.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, CEO Kenneth Moelis sold 10,253 shares of the stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $45.55, for a total value of $467,024.15. Following the transaction, the chief executive officer now directly owns 193,423 shares of the company’s stock, valued at approximately $8,810,417.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Kenneth Moelis sold 10,253 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $45.55, for a total transaction of $467,024.15. Following the transaction, the chief executive officer now directly owns 193,423 shares of the company’s stock, valued at $8,810,417.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph Simon sold 12,370 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $45.98, for a total transaction of $568,772.60. The disclosure for this sale can be found here. Insiders have sold a total of 105,544 shares of company stock valued at $4,850,992 in the last three months. 7.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Richard P Slaughter Associates Inc boosted its position in shares of Moelis & Company by 8.4% during the 4th quarter. Richard P Slaughter Associates Inc now owns 28,702 shares of the asset manager’s stock worth $1,101,000 after acquiring an additional 2,213 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Moelis & Company by 5.9% during the third quarter. Bank of New York Mellon Corp now owns 588,473 shares of the asset manager’s stock worth $19,897,000 after purchasing an additional 32,788 shares during the period. Capital Impact Advisors LLC lifted its holdings in shares of Moelis & Company by 20.9% during the third quarter. Capital Impact Advisors LLC now owns 9,100 shares of the asset manager’s stock worth $393,000 after purchasing an additional 1,576 shares during the period. FourThought Financial LLC lifted its holdings in shares of Moelis & Company by 74.5% during the third quarter. FourThought Financial LLC now owns 1,251 shares of the asset manager’s stock worth $42,000 after purchasing an additional 534 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Moelis & Company by 12.9% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,928,445 shares of the asset manager’s stock worth $234,251,000 after purchasing an additional 792,661 shares during the period. 90.35% of the stock is owned by institutional investors.

About Moelis & Company

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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. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.

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