Wells Fargo & Company Boosts Moelis & Company (NYSE:MC) Price Target to $83.00

Moelis & Company (NYSE:MC) had its target price lifted by Wells Fargo & Company from $77.00 to $83.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 5.37% from the company’s current price.

Other research analysts have also issued reports about the stock. Morgan Stanley upped their price objective on shares of Moelis & Company from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods upgraded shares of Moelis & Company from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $71.00 to $86.00 in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $78.83.

Moelis & Company Trading Down 3.0 %

Moelis & Company stock opened at $78.77 on Thursday. The firm has a market cap of $5.90 billion, a P/E ratio of 148.62 and a beta of 1.40. Moelis & Company has a 1-year low of $46.24 and a 1-year high of $82.89. The firm has a 50-day moving average of $75.51 and a 200-day moving average of $70.75.

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, topping 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%. Research analysts forecast that Moelis & Company will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of Moelis & Company

Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in Moelis & Company by 2.7% during the 2nd quarter. Bank of Montreal Can now owns 7,181 shares of the asset manager’s stock valued at $409,000 after buying an additional 192 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Moelis & Company during the second quarter valued at $554,000. GAMMA Investing LLC raised its position in shares of Moelis & Company by 115.8% in the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock worth $68,000 after purchasing an additional 534 shares during the last quarter. Fulton Bank N.A. purchased a new position in shares of Moelis & Company in the 3rd quarter worth about $207,000. Finally, nVerses Capital LLC boosted its stake in Moelis & Company by 110.0% in the 3rd quarter. nVerses Capital LLC now owns 6,300 shares of the asset manager’s stock worth $432,000 after purchasing an additional 3,300 shares in the last quarter. 91.53% of the stock is owned by institutional investors.

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.