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MC

Moelis

$33.55

-0.155 (-0.46%)

06:52
09/03/19
09/03
06:52
09/03/19
06:52

Moelis to sell 8M Moelis Australia shares

Moelis & Company announced that the Firm will sell 8.0M Moelis Australia shares to MOE via a selective buyback at a price of Australian $3.40 per share. This selective buyback is subject to MOE shareholder approval, and an independent expert providing an opinion that the buyback is fair and reasonable to all MOE shareholders, at an EGM to be held in Australia in the coming months. Following implementation of the selective buyback, Moelis' share ownership in Moelis Australia will be 19.98%. There will be no change to the Moelis Australia board composition and the strategic alliance in Corporate Advisory services between Moelis and Moelis Australia remains unchanged. The buyback and sale price of Australian $3.40 per MOE share represents a 6.6% discount to the 30-day volume weighted average price for MOE shares up to and including September 2. The Share Sale and selective buyback transactions are expected to close in the Q3 and Q4, respectively.

MC Moelis
$33.55

-0.155 (-0.46%)

01/04/19
KBWI
01/04/19
INITIATION
Target $43
KBWI
Outperform
Moelis assumed with an Outperform at Keefe Bruyette
Keefe Bruyette analyst Michael Brown assumed coverage of Moelis with an Outperform rating and $43 price target. Before suspending coverage KBW had a Market Perform rating on the shares. The analyst believes the deal advisers are trading at "trough multiples" and that the market is pricing in "an imminent end to the current M&A cycle."
04/11/19
BOFA
04/11/19
DOWNGRADE
BOFA
Underperform
Moelis downgraded to Underperform from Buy at BofA/Merrill
04/11/19
04/11/19
DOWNGRADE

Neutral
Lazard, Moelis downgraded at BofA/Merrill on slowing M&A activity
As previously reported, BofA/Merrill analyst Michael Needham downgraded Lazard (LAZ) to Neutral from Buy and also downgraded Moelis (MC) by two notches to Underperform from Buy to reflect the slowdown in M&A activity, saying he expects Q1 to be the "first quarter in quite some time" when M&A advisors report lower revenues. The analyst also lowers his price targets on Lazard to $41 from $47 and on Moelis to $37 from $50, noting that deal pipelines started the year down 18%. Needham believes that while the Q2 deal pipeline should be stronger, it will still be hard for M&A advisors to meet consensus expectations, which call for average revenue growth of 8% of the next two years.
07/31/19
KBWI
07/31/19
DOWNGRADE
Target $39
KBWI
Market Perform
Moelis downgraded to Market Perform from Outperform at Keefe Bruyette
Keefe Bruyette analyst Michael Brown downgraded Moelis & Co. to Market Perform from Outperform and lowered his price target for the shares to $39 from $42. While the company's Q2 beat on expenses, expectations for the second half of 2019 are too high, Brown tells investors in a post-earnings research note.

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