Wescott Financial Advisory Group LLC Invests $1.51 Million in Perella Weinberg Partners (NASDAQ:PWP)

Wescott Financial Advisory Group LLC bought a new stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 92,860 shares of the company's stock, valued at approximately $1,509,000. Wescott Financial Advisory Group LLC owned approximately 0.10% of Perella Weinberg Partners as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Interval Partners LP raised its position in shares of Perella Weinberg Partners by 142.9% during the 2nd quarter. Interval Partners LP now owns 225,026 shares of the company's stock valued at $3,657,000 after acquiring an additional 132,389 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Perella Weinberg Partners during the 2nd quarter valued at approximately $35,715,000. First Eagle Investment Management LLC raised its position in shares of Perella Weinberg Partners by 50.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 426,078 shares of the company's stock valued at $6,924,000 after acquiring an additional 142,900 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Perella Weinberg Partners by 17.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company's stock valued at $272,000 after acquiring an additional 2,537 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Perella Weinberg Partners during the 2nd quarter valued at approximately $20,198,000. 41.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on PWP. JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 target price on shares of Perella Weinberg Partners in a research report on Monday, August 5th. Keefe, Bruyette & Woods increased their target price on Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Friday, July 12th.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ:PWP traded down $0.37 on Wednesday, hitting $19.43. The company's stock had a trading volume of 191,308 shares, compared to its average volume of 428,802. Perella Weinberg Partners has a 12 month low of $9.30 and a 12 month high of $20.58. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -10.51 and a beta of 1.50. The stock's 50-day moving average is $18.65 and its two-hundred day moving average is $16.33.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its earnings results on Friday, August 2nd. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.26. Perella Weinberg Partners had a positive return on equity of 56.85% and a negative net margin of 15.75%. The business had revenue of $272.00 million during the quarter, compared to analysts' expectations of $179.35 million. During the same quarter last year, the business posted $0.16 earnings per share. The company's quarterly revenue was up 64.3% on a year-over-year basis.

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.28 annualized dividend and a yield of 1.44%. Perella Weinberg Partners's dividend payout ratio is currently -15.05%.

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.