Moelis & Company Slumps: MC Falls 6.9% in Session
Moelis & Company (MC) saw a big move last session, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for MC as the stock is now up around 6% since Oct 23.
Although this slump was obviously disappointing, this global independent investment bank has seen 2 positive revisions and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for MC. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
MC currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Some better-ranked stocks in the Financial-Investment Brokers industry include FXCM Inc. (FXCM), Piper Jaffray Companies (PJC) and BGC Partners, Inc. (BGCP). While FXCM and Piper Jaffray hold a Zacks Rank #1 (Strong Buy), BGC Partners carries a Zacks Rank #2 (Buy).
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MOELIS & CO (MC): Free Stock Analysis Report
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