JPMorgan Chase & Co. Lowers Moelis & Co (NYSE:MC) to Neutral

JPMorgan Chase & Co. cut shares of Moelis & Co (NYSE:MC) from an overweight rating to a neutral rating in a research report released on Monday morning, Briefing.com Automated Import reports. The brokerage currently has $20.00 target price on the asset manager’s stock.

Several other brokerages have also recently weighed in on MC. Keefe, Bruyette & Woods raised shares of Moelis & Co from a market perform rating to an outperform rating and upped their price objective for the stock from $34.00 to $39.00 in a research note on Sunday, January 26th. Morgan Stanley decreased their price objective on shares of Moelis & Co from $37.00 to $35.00 and set an equal weight rating on the stock in a research note on Wednesday, December 11th. ValuEngine cut shares of Moelis & Co from a buy rating to a hold rating in a research note on Thursday, February 6th. Zacks Investment Research raised shares of Moelis & Co from a sell rating to a hold rating and set a $35.00 price objective on the stock in a research note on Friday, January 3rd. Finally, Buckingham Research upped their price objective on shares of Moelis & Co from $39.00 to $41.00 and gave the stock a buy rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $35.43.

Moelis & Co stock traded up $2.76 during trading hours on Monday, hitting $31.08. 738,200 shares of the stock were exchanged, compared to its average volume of 770,217. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $1.72 billion, a P/E ratio of 16.36 and a beta of 1.85. Moelis & Co has a 12 month low of $22.11 and a 12 month high of $43.74. The business’s 50-day moving average is $32.40 and its two-hundred day moving average is $33.00.

Moelis & Co (NYSE:MC) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.13. The firm had revenue of $223.50 million for the quarter, compared to analysts’ expectations of $214.52 million. Moelis & Co had a net margin of 14.08% and a return on equity of 39.51%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. On average, equities analysts predict that Moelis & Co will post 2.78 earnings per share for the current fiscal year.

The business also recently declared a None dividend, which will be paid on Friday, March 27th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $1.26 per share. This is a boost from Moelis & Co’s previous None dividend of $0.50. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, February 14th. Moelis & Co’s dividend payout ratio is 104.08%.

In other news, CFO Joseph Simon sold 5,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $39.46, for a total transaction of $197,300.00. Following the sale, the chief financial officer now directly owns 23,381 shares of the company’s stock, valued at $922,614.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Osamu R. Watanabe sold 10,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $38.80, for a total transaction of $388,000.00. Following the sale, the general counsel now directly owns 27,100 shares in the company, valued at $1,051,480. The disclosure for this sale can be found here. Insiders have sold 221,688 shares of company stock worth $8,134,624 over the last three months. 19.67% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MC. FMR LLC lifted its holdings in Moelis & Co by 2.3% in the first quarter. FMR LLC now owns 108,936 shares of the asset manager’s stock valued at $4,532,000 after buying an additional 2,402 shares during the period. First Trust Advisors LP lifted its holdings in Moelis & Co by 104.8% in the third quarter. First Trust Advisors LP now owns 24,078 shares of the asset manager’s stock valued at $791,000 after buying an additional 12,322 shares during the period. State Street Corp lifted its holdings in Moelis & Co by 1.4% in the third quarter. State Street Corp now owns 1,027,175 shares of the asset manager’s stock valued at $33,743,000 after buying an additional 14,592 shares during the period. Stifel Financial Corp lifted its holdings in Moelis & Co by 2.5% in the third quarter. Stifel Financial Corp now owns 87,463 shares of the asset manager’s stock valued at $2,871,000 after buying an additional 2,145 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in Moelis & Co by 1.0% in the third quarter. California State Teachers Retirement System now owns 73,852 shares of the asset manager’s stock valued at $2,426,000 after buying an additional 735 shares during the period. Institutional investors and hedge funds own 75.70% of the company’s stock.

Moelis & Co Company Profile

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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Analyst Recommendations for Moelis & Co (NYSE:MC)

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