In a filing, Moelis & Co revealed its Co-President, MD MAHMOODZADEGAN NAVID unloaded Company’s shares for reported $1.05 million on Mar 01 ’24. In the deal valued at $53.88 per share,19,483 shares were sold. As a result of this transaction, MAHMOODZADEGAN NAVID now holds 44,980 shares worth roughly $2.55 million.
Then, MOELIS KENNETH sold 4,000 shares, generating $216,320 in total proceeds. Upon selling the shares at $54.08, the Chairman, CEO now owns 82,441 shares.
Before that, MOELIS KENNETH sold 75,000 shares. Moelis & Co shares valued at $4,058,250 were divested by the Chairman, CEO at a price of $54.11 per share. As a result of the transaction, MOELIS KENNETH now holds 86,441 shares, worth roughly $4.9 million.
Goldman upgraded its Moelis & Co [MC] rating to a Neutral from a a Sell in a research note published on March 13, 2024; the price target was increased to $58 from $53. Goldman also remained covering MC and has decreased its forecast on January 11, 2023 with a “Sell” recommendation from previously “Neutral” rating. Keefe Bruyette revised its rating on November 03, 2022. It rated MC as “an Underperform” which previously was an “a Mkt perform”.
Price Performance Review of MC
On Monday, Moelis & Co [NYSE:MC] saw its stock jump 0.60% to $56.70. Over the last five days, the stock has gained 0.94%. Moelis & Co shares have risen nearly 1.02% since the year began. Nevertheless, the stocks have risen 49.05% over the past one year. While a 52-week high of $58.67 was reached on 03/21/24, a 52-week low of $33.87 was recorded on 03/05/24. SMA at 50 days reached $54.87, while 200 days put it at $49.51. A total of 0.67 million shares were traded, compared to the trading of 0.43 million shares in the previous session.
Levels Of Support And Resistance For MC Stock
The 24-hour chart illustrates a support level at 56.08, which if violated will result in even more drops to 55.45. On the upside, there is a resistance level at 57.35. A further resistance level may holdings at 58.00. The Relative Strength Index (RSI) on the 14-day chart is 57.19, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 27.19%. Stochastics %K at 64.98% indicates the stock is a holding.
How much short interest is there in Moelis & Co?
A steep rise in short interest was recorded in Moelis & Co stocks on Mar 15, 2024, dropping by -0.36 million shares to a total of 6.06 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 6.42 million shares. There was a decline of -5.94%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 10.19% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.95.
