Blue Zone Wealth Advisors LLC Has $3.90 Million Holdings in Moelis & Company (NYSE:MC)

Blue Zone Wealth Advisors LLC boosted its holdings in shares of Moelis & Company (NYSE:MC - Free Report) by 13.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,893 shares of the asset manager's stock after purchasing an additional 8,107 shares during the period. Blue Zone Wealth Advisors LLC owned 0.09% of Moelis & Company worth $3,904,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Edgestream Partners L.P. bought a new position in Moelis & Company in the 4th quarter valued at $2,784,000. Charles Schwab Investment Management Inc. raised its stake in shares of Moelis & Company by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,552 shares of the asset manager's stock valued at $69,119,000 after purchasing an additional 12,632 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Moelis & Company in the 4th quarter valued at about $27,855,000. Entropy Technologies LP acquired a new stake in shares of Moelis & Company in the 4th quarter valued at about $412,000. Finally, Quantbot Technologies LP increased its position in shares of Moelis & Company by 262.8% in the fourth quarter. Quantbot Technologies LP now owns 22,865 shares of the asset manager's stock valued at $1,689,000 after acquiring an additional 16,563 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Stock Performance

Shares of MC stock opened at $59.12 on Friday. The stock's fifty day moving average price is $54.91 and its two-hundred day moving average price is $66.08. The company has a market cap of $4.64 billion, a PE ratio of 33.59 and a beta of 1.64. Moelis & Company has a fifty-two week low of $47.00 and a fifty-two week high of $82.89.

Moelis & Company (NYSE:MC - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $306.59 million during the quarter, compared to analyst estimates of $309.67 million. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. Moelis & Company's revenue for the quarter was up 41.0% compared to the same quarter last year. During the same period last year, the company earned $0.22 EPS. On average, equities analysts predict that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.40%. The ex-dividend date is Monday, May 5th. Moelis & Company's dividend payout ratio is currently 119.27%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MC shares. Wall Street Zen downgraded Moelis & Company from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th. Morgan Stanley reduced their price objective on Moelis & Company from $70.00 to $42.00 and set an "underweight" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. reduced their price objective on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group boosted their price target on Moelis & Company from $56.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company cut their price target on Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $59.83.

Moelis & Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.

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