Hotchkis & Wiley Capital Management LLC lessened its stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 26.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 899,470 shares of the company's stock after selling 323,810 shares during the period. Hotchkis & Wiley Capital Management LLC owned 1.05% of Perella Weinberg Partners worth $17,369,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Perella Weinberg Partners by 122.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company's stock worth $159,000 after purchasing an additional 5,379 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Perella Weinberg Partners by 16.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company's stock valued at $174,000 after acquiring an additional 1,753 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Perella Weinberg Partners during the 3rd quarter valued at $197,000. PDT Partners LLC bought a new stake in shares of Perella Weinberg Partners during the 3rd quarter valued at $210,000. Finally, Arizona State Retirement System raised its position in shares of Perella Weinberg Partners by 15.3% during the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company's stock valued at $212,000 after acquiring an additional 1,724 shares during the last quarter. Institutional investors own 41.07% of the company's stock.
Perella Weinberg Partners Trading Down 0.4 %
Shares of PWP stock traded down $0.11 on Wednesday, hitting $25.35. The stock had a trading volume of 437,521 shares, compared to its average volume of 435,294. Perella Weinberg Partners has a twelve month low of $10.73 and a twelve month high of $26.62. The firm has a market cap of $2.23 billion, a P/E ratio of -10.70 and a beta of 1.57. The company has a fifty day moving average price of $22.46 and a two-hundred day moving average price of $19.05.
Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $278.20 million during the quarter, compared to analyst estimates of $196.42 million. During the same quarter in the previous year, the business earned $0.12 EPS. The firm's revenue was up 100.1% on a year-over-year basis.
Perella Weinberg Partners Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, December 4th. Perella Weinberg Partners's payout ratio is presently -11.81%.
Analyst Upgrades and Downgrades
Separately, JMP Securities upped their target price on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the company a "market outperform" rating in a research report on Wednesday, October 9th.
Check Out Our Latest Report on PWP
Insider Buying and Selling
In other news, President Dietrich Becker sold 442,889 shares of the 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 transaction, the president now directly owns 379,140 shares in the company, valued at $9,281,347.20. This represents a 53.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Bednar sold 300,579 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the transaction, the chief executive officer now 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. Company insiders own 43.53% of the company's stock.
About Perella Weinberg Partners
(
Free Report)
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.
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