Azora Capital LP Acquires 110,370 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Azora Capital LP grew its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,411,042 shares of the company's stock after purchasing an additional 110,370 shares during the period. Perella Weinberg Partners makes up approximately 2.5% of Azora Capital LP's holdings, making the stock its 17th biggest position. Azora Capital LP owned 2.81% of Perella Weinberg Partners worth $46,557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Perella Weinberg Partners by 6.7% in the first quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company's stock valued at $35,212,000 after acquiring an additional 155,855 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Perella Weinberg Partners in the second quarter valued at approximately $35,715,000. Millennium Management LLC boosted its holdings in shares of Perella Weinberg Partners by 2,883.9% in the second quarter. Millennium Management LLC now owns 1,723,785 shares of the company's stock valued at $28,012,000 after acquiring an additional 1,666,015 shares in the last quarter. Wasatch Advisors LP boosted its holdings in shares of Perella Weinberg Partners by 13.3% in the third quarter. Wasatch Advisors LP now owns 1,483,429 shares of the company's stock valued at $28,645,000 after acquiring an additional 174,445 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Perella Weinberg Partners in the second quarter valued at approximately $20,198,000. Institutional investors own 41.07% of the company's stock.

Insider Buying and Selling

In related news, President Dietrich Becker sold 442,889 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value 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 approximately $9,281,347.20. This trade represents a 53.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 566,386 shares of the company's stock, valued at $13,865,129.28. This represents a 34.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 43.53% of the company's stock.

Perella Weinberg Partners Stock Up 0.5 %

NASDAQ:PWP traded up $0.12 during trading hours on Monday, reaching $25.79. 551,718 shares of the company's stock were exchanged, compared to its average volume of 434,774. The company has a market capitalization of $2.27 billion, a P/E ratio of -10.68 and a beta of 1.49. Perella Weinberg Partners has a 12 month low of $10.73 and a 12 month high of $26.62. The business's 50-day simple moving average is $22.22 and its two-hundred day simple moving average is $18.91.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.14. The firm had revenue of $278.20 million during the quarter, compared to analysts' expectations of $196.42 million. Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%. The firm's revenue for the quarter was up 100.1% compared to the same quarter last year. During the same period last year, the firm 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. 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 1.09%. The ex-dividend date of this dividend is Wednesday, December 4th. Perella Weinberg Partners's dividend payout ratio is -11.81%.

Analyst Upgrades and Downgrades

Separately, JMP Securities raised 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.

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.