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

Moelis & Company (NYSE:MC) had its price objective upped by Wells Fargo & Company from $70.00 to $78.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 5.49% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley upgraded Moelis & Company from an “underweight” rating to an “overweight” rating and upped their price target for the company from $66.00 to $92.00 in a research report on Monday, December 9th. UBS Group upped their target price on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.50.

Moelis & Company Price Performance

Moelis & Company stock opened at $73.94 on Thursday. The business has a 50 day moving average of $72.47 and a 200-day moving average of $65.62. The company has a market capitalization of $5.54 billion, a P/E ratio of 139.51 and a beta of 1.37. Moelis & Company has a 1 year low of $46.24 and a 1 year high of $81.60.

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

Institutional Investors Weigh In On Moelis & Company

Large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. bought a new position in shares of Moelis & Company during the 3rd quarter worth approximately $49,017,000. Natixis Advisors LLC lifted its position in shares of Moelis & Company by 179.2% during the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock valued at $40,265,000 after acquiring an additional 454,478 shares during the period. Pier Capital LLC bought a new position in Moelis & Company during the third quarter worth $8,152,000. Jacobs Levy Equity Management Inc. acquired a new stake in Moelis & Company in the third quarter worth $6,970,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Moelis & Company by 322.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 98,000 shares of the asset manager’s stock valued at $6,714,000 after purchasing an additional 74,800 shares in the last quarter. Institutional investors and hedge funds 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.