Perella Weinberg Partners (NASDAQ:PWP) Shares Acquired by Azora Capital LP

Azora Capital LP grew its stake in Perella Weinberg Partners (NASDAQ:PWP) by 4.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,411,042 shares of the company’s stock after acquiring an additional 110,370 shares during the period. Perella Weinberg Partners comprises 2.5% of Azora Capital LP’s investment portfolio, making the stock its 17th biggest holding. Azora Capital LP owned approximately 2.81% of Perella Weinberg Partners worth $46,557,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Westwood Holdings Group Inc. acquired a new position in Perella Weinberg Partners during the 2nd quarter worth about $35,715,000. Millennium Management LLC increased its stake 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 during the period. William Blair Investment Management LLC acquired a new stake in shares of Perella Weinberg Partners during the second quarter worth about $20,198,000. Boston Partners boosted its stake in shares of Perella Weinberg Partners by 247.7% in the first quarter. Boston Partners now owns 534,968 shares of the company’s stock valued at $7,568,000 after purchasing an additional 381,091 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Perella Weinberg Partners by 197.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock valued at $8,381,000 after purchasing an additional 288,186 shares during the period. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, JMP Securities upped their target price on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th.

Insider Transactions at Perella Weinberg Partners

In other Perella Weinberg Partners news, President Dietrich Becker sold 442,889 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total value of $10,841,922.72. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total value of $7,358,173.92. Following the transaction, the chief executive officer now directly owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. This represents a 34.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 43.53% of the company’s stock.

Perella Weinberg Partners Price Performance

PWP opened at $25.67 on Monday. The business has a fifty day moving average price of $22.22 and a 200 day moving average price of $18.88. Perella Weinberg Partners has a 12 month low of $10.73 and a 12 month high of $26.62. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -10.83 and a beta of 1.49.

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

Perella Weinberg Partners Announces Dividend

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