Today: The Moelis & Co. (MC) Cut to Strong Sell at Zacks Investment Research

The Moelis & Co. (MC) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Moelis & Co. (NYSE:MC) from a hold rating to a strong sell rating in a research report released on Tuesday.

According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “

Separately, Credit Suisse Group AG reaffirmed a hold rating on shares of Moelis & Co. in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $31.00.

Shares of Moelis & Co. (NYSE:MC) opened at 24.05 on Tuesday. The firm has a market cap of $495.41 million, a P/E ratio of 14.32 and a beta of 1.73. The company’s 50 day moving average price is $26.18 and its 200 day moving average price is $26.22. Moelis & Co. has a 12-month low of $21.91 and a 12-month high of $31.84.

Moelis & Co. (NYSE:MC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $131.70 million for the quarter, compared to analysts’ expectations of $131.44 million. Moelis & Co. had a net margin of 6.01% and a return on equity of 35.37%. Moelis & Co.’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. Equities research analysts forecast that Moelis & Co. will post $1.62 EPS for the current year.

Large investors have recently modified their holdings of the stock. Royce & Associates LP boosted its stake in shares of Moelis & Co. by 93.4% in the first quarter. Royce & Associates LP now owns 1,836,456 shares of the company’s stock worth $51,843,000 after buying an additional 887,043 shares during the last quarter. Spark Investment Management LLC boosted its stake in shares of Moelis & Co. by 431.3% in the first quarter. Spark Investment Management LLC now owns 59,500 shares of the company’s stock worth $1,679,000 after buying an additional 48,300 shares during the last quarter. UBS Group AG boosted its stake in shares of Moelis & Co. by 29.7% in the first quarter. UBS Group AG now owns 68,649 shares of the company’s stock worth $1,938,000 after buying an additional 15,709 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Moelis & Co. by 17.5% in the first quarter. UBS Asset Management Americas Inc. now owns 71,717 shares of the company’s stock worth $2,024,000 after buying an additional 10,683 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Moelis & Co. by 86.3% in the first quarter. Legal & General Group Plc now owns 3,519 shares of the company’s stock worth $100,000 after buying an additional 1,630 shares during the last quarter. 84.45% of the stock is currently owned by institutional investors and hedge funds.

About Moelis & Co.

Moelis & Company is an investment banking advisory firm. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. The Company advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.

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