Basswood Capital Management L.L.C. Cuts Position in Perella Weinberg Partners (NASDAQ:PWP)

Basswood Capital Management L.L.C. lowered its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,100,619 shares of the company's stock after selling 83,957 shares during the quarter. Basswood Capital Management L.L.C. owned about 1.28% of Perella Weinberg Partners worth $21,253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PWP. 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 worth $35,212,000 after buying an additional 155,855 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Perella Weinberg Partners by 16.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company's stock worth $174,000 after buying an additional 1,753 shares during the period. Janus Henderson Group PLC increased its stake in Perella Weinberg Partners by 160.3% in the 1st quarter. Janus Henderson Group PLC now owns 90,715 shares of the company's stock worth $1,280,000 after buying an additional 55,862 shares during the period. California State Teachers Retirement System grew its holdings in Perella Weinberg Partners by 6.0% during the 1st quarter. California State Teachers Retirement System now owns 45,448 shares of the company's stock worth $642,000 after acquiring an additional 2,560 shares in the last quarter. Finally, Boston Partners grew its holdings in Perella Weinberg Partners by 247.7% during the 1st quarter. Boston Partners now owns 534,968 shares of the company's stock worth $7,568,000 after acquiring an additional 381,091 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company's stock.

Analysts Set New Price Targets

Separately, JMP Securities increased 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 report on Wednesday, October 9th.

Insider Buying and Selling

In related news, President Dietrich Becker sold 442,889 shares of the firm's stock in a transaction on 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 transaction, the president now owns 379,140 shares of the company's stock, valued at $9,281,347.20. This trade represents a 53.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of the company's stock in a transaction on 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 sale, the chief executive officer now directly owns 566,386 shares in the company, valued at approximately $13,865,129.28. The trade was a 34.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 43.53% of the stock is owned by company insiders.

Perella Weinberg Partners Stock Performance

Perella Weinberg Partners stock traded up $0.27 during midday trading on Monday, hitting $25.94. 371,175 shares of the company's stock were exchanged, compared to its average volume of 434,507. Perella Weinberg Partners has a 12 month low of $10.73 and a 12 month high of $26.62. The company has a market cap of $2.29 billion, a PE ratio of -10.68 and a beta of 1.49. The firm has a 50-day moving average of $22.22 and a two-hundred day moving average of $18.91.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.14. Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%. The business had revenue of $278.20 million for the quarter, compared to analysts' expectations of $196.42 million. During the same period last year, the business earned $0.12 EPS. The company's revenue was up 100.1% compared to the same quarter last year.

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 issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, December 4th. Perella Weinberg Partners's dividend payout ratio is currently -11.81%.

About Perella Weinberg Partners

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.