Goldman Sachs has reduced its price target for Moelis (MC) to $70, citing a perceived slowdown in investment banking momentum.

Casey Wasserman has hired investment bank Moelis & Company to explore the sale of his eponymous talent and marketing agency.

UBS has decreased its price target for Moelis & Company (MC) to $59 from $74, while maintaining a Neutral rating on the investment banking advisory firm.

Moelis & Company has been retained to manage the sale of Wasserman, a prominent sports and entertainment marketing company.

A former Moelis banker is set to plead guilty in a global insider trading investigation, marking a development in the high-profile case.