Blue Zone Wealth Advisors LLC Has $5 Million Holdings in Moelis & Company $MC

Key Points

• Blue Zone Wealth Advisors LLC increased its stake in Moelis & Company by 20% to own 80,277 shares valued at approximately $5 million as of the end of the last quarter.
• Moelis & Company recently reported earnings of $0.53 per share, exceeding analysts' estimates, with a 38.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.65 per share, equating to a dividend yield of 4.1%, while its dividend payout ratio stands at 102.36%.

Blue Zone Wealth Advisors LLC boosted its stake in shares of Moelis & Company (NYSE:MC - Free Report) by 20.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,277 shares of the asset manager's stock after purchasing an additional 13,384 shares during the quarter. Blue Zone Wealth Advisors LLC owned 0.10% of Moelis & Company worth $5,003,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MC. Charles Schwab Investment Management Inc. raised its stake in Moelis & Company by 214.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,942,299 shares of the asset manager's stock valued at $171,713,000 after purchasing an additional 2,006,747 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Moelis & Company by 32.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager's stock valued at $137,548,000 after purchasing an additional 579,529 shares during the last quarter. Jennison Associates LLC raised its stake in Moelis & Company by 457.0% during the 1st quarter. Jennison Associates LLC now owns 485,238 shares of the asset manager's stock valued at $28,318,000 after purchasing an additional 398,129 shares during the last quarter. Millennium Management LLC raised its stake in Moelis & Company by 311.4% during the 1st quarter. Millennium Management LLC now owns 465,677 shares of the asset manager's stock valued at $27,177,000 after purchasing an additional 352,490 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Moelis & Company during the 1st quarter valued at $19,561,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Osamu R. Watanabe sold 6,340 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $72.64, for a total value of $460,537.60. Following the sale, the general counsel owned 131 shares of the company's stock, valued at approximately $9,515.84. This represents a 97.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Shropshire sold 2,615 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $72.52, for a total transaction of $189,639.80. Following the sale, the director directly owned 7,109 shares in the company, valued at approximately $515,544.68. This represents a 26.89% decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Moelis & Company Stock Performance

MC opened at $63.03 on Friday. The firm's 50-day simple moving average is $71.65 and its 200-day simple moving average is $63.63. Moelis & Company has a twelve month low of $47.00 and a twelve month high of $82.89. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 24.82 and a beta of 1.77.

Moelis & Company (NYSE:MC - Get Free Report) last posted its earnings results on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.21. Moelis & Company had a net margin of 14.31% and a return on equity of 42.72%. The business had revenue of $365.38 million for the quarter, compared to analyst estimates of $269.57 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm's quarterly revenue was up 38.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Monday, August 4th were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $2.60 annualized dividend and a dividend yield of 4.1%. Moelis & Company's dividend payout ratio is presently 102.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MC shares. Weiss Ratings restated a "hold (c)" rating on shares of Moelis & Company in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on shares of Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Wells Fargo & Company increased their price objective on shares of Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Zacks Research cut shares of Moelis & Company from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Finally, Morgan Stanley increased their price objective on shares of Moelis & Company from $74.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $73.14.

Moelis & Company 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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