Blue Zone Wealth Advisors LLC Acquires Shares of 56,595 Moelis & Company (NYSE:MC)

Blue Zone Wealth Advisors LLC bought a new stake in Moelis & Company (NYSE:MC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 56,595 shares of the asset manager’s stock, valued at approximately $3,213,000. Blue Zone Wealth Advisors LLC owned 0.08% of Moelis & Company at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MC. Wealth Enhancement Advisory Services LLC purchased a new position in Moelis & Company during the 1st quarter worth $5,062,000. Peak Financial Advisors LLC raised its stake in Moelis & Company by 2.9% during the 1st quarter. Peak Financial Advisors LLC now owns 8,715 shares of the asset manager’s stock valued at $495,000 after acquiring an additional 245 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Moelis & Company by 11.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock worth $189,404,000 after acquiring an additional 334,620 shares during the period. Winslow Asset Management Inc. lifted its position in Moelis & Company by 1.5% during the 4th quarter. Winslow Asset Management Inc. now owns 174,963 shares of the asset manager’s stock worth $9,821,000 after acquiring an additional 2,593 shares during the period. Finally, Bridgefront Capital LLC purchased a new position in shares of Moelis & Company in the 4th quarter valued at approximately $638,000. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MC. UBS Group increased their price target on Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $54.00 price target (down from $58.00) on shares of Moelis & Company in a report on Thursday, April 25th. Finally, The Goldman Sachs Group raised Moelis & Company from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $58.00 in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.80.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, insider Navid Mahmoodzadegan sold 44,980 shares of Moelis & Company stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Kenneth Moelis sold 40,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the sale, the chief executive officer now owns 42,441 shares of the company’s stock, valued at $2,290,965.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Moelis & Company Trading Up 4.0 %

Shares of MC traded up $2.18 during trading hours on Friday, reaching $56.86. The company had a trading volume of 2,066,636 shares, compared to its average volume of 495,971. Moelis & Company has a 12-month low of $38.58 and a 12-month high of $58.67. The firm has a 50 day simple moving average of $54.12 and a 200-day simple moving average of $54.60. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of -299.26 and a beta of 1.35.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. The company had revenue of $217.49 million during the quarter, compared to analysts’ expectations of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. Sell-side analysts forecast that Moelis & Company will post 1.29 earnings per share for the current year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, May 6th were given a dividend of $0.60 per share. The ex-dividend date was Friday, May 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 4.22%. Moelis & Company’s payout ratio is -1,263.16%.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.