Moelis & Co (NYSE:MC) shares traded -1.25% lower at $56.77 on Wall Street last session.
MC stock price is now 3.91% away from the 50-day moving average and 15.58% away from the 200-day moving average. The market capitalization of the company currently stands at $3.78B.
With the price target enhanced from $53 to $58, Goldman Upgraded its rating from Sell to Neutral for Moelis & Co (NYSE: MC). , while ‘Goldman’ rates the stock as ‘Sell’
In other news, MAHMOODZADEGAN NAVID, Co-President, MD sold 19,483 shares of the company’s stock on Mar 01 ’24. The stock was sold for $1,049,744 at an average price of $53.88. Upon completion of the transaction, the Co-President, MD now directly owns 44,980 shares in the company, valued at $2.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01 ’24, Chairman, CEO MOELIS KENNETH sold 4,000 shares of the business’s stock. A total of $216,320 was realized by selling the stock at an average price of $54.08. This leaves the insider owning 82,441 shares of the company worth $4.68 million. A total of 0.55% of the company’s stock is owned by insiders.
During the past 12 months, Moelis & Co has had a low of $33.87 and a high of $58.67. The fifty day moving average price for MC is $54.63 and a two-hundred day moving average price translates $49.12 for the stock.
The latest earnings results from Moelis & Co (NYSE: MC) was released for Dec, 2023. According to the Capital Markets Company, earnings per share came in at -$0.06, beating analysts’ expectations of -$0.11 by 0.05. This compares to $0.27 EPS in the same period last year. The net profit margin was -2.89% and return on equity was -6.20% for MC. The company reported revenue of $214.88 million for the quarter, compared to $207.18 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.71 percent. For the current quarter, analysts expect MC to generate $210.9M in revenue.
Moelis & Co(MC) Company Profile
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. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds. It operates in North and South America, Europe, the Middle East, Asia, and Australia. The company was founded in 2007 and is headquartered in New York, New York.
