Perella Weinberg Partners (NASDAQ:PWP) Shares Bought by Algert Global LLC

Algert Global LLC lifted its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 158,646 shares of the company’s stock after buying an additional 10,621 shares during the period. Algert Global LLC owned approximately 0.18% of Perella Weinberg Partners worth $3,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Perella Weinberg Partners by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock valued at $35,212,000 after buying an additional 155,855 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Perella Weinberg Partners during the second quarter worth about $35,715,000. Millennium Management LLC raised its holdings in Perella Weinberg Partners by 2,883.9% during the second quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock worth $28,012,000 after purchasing an additional 1,666,015 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Perella Weinberg Partners in the second quarter valued at about $20,198,000. Finally, Royce & Associates LP boosted its holdings in Perella Weinberg Partners by 14.3% in the 3rd quarter. Royce & Associates LP now owns 1,179,111 shares of the company’s stock valued at $22,769,000 after purchasing an additional 147,424 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Insider Transactions at Perella Weinberg Partners

In other Perella Weinberg Partners news, CEO Andrew Bednar sold 300,579 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the completion of the transaction, the chief executive officer now directly owns 566,386 shares in the company, valued at approximately $13,865,129.28. This trade represents a 34.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Dietrich Becker sold 442,889 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction of $10,841,922.72. Following the completion of the sale, the president now directly owns 379,140 shares in the company, valued at $9,281,347.20. This trade represents a 53.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 43.53% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JMP Securities raised their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th.

Perella Weinberg Partners Trading Down 1.0 %

PWP stock opened at $25.59 on Wednesday. The company’s 50-day moving average price is $21.71 and its 200 day moving average price is $18.61. Perella Weinberg Partners has a 52 week low of $10.73 and a 52 week high of $26.62. The company has a market cap of $2.26 billion, a P/E ratio of -10.80 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The business had revenue of $278.20 million for the quarter, compared to analyst estimates of $196.42 million. During the same quarter in the previous year, the company earned $0.12 EPS. The company’s quarterly revenue was up 100.1% on a year-over-year basis.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio is currently -11.81%.

Perella Weinberg Partners Profile

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.