Perella Weinberg Partners (NASDAQ:PWP) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 175.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 570,719 shares of the company's stock after purchasing an additional 363,331 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.66% of Perella Weinberg Partners worth $11,021,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Perella Weinberg Partners by 122.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company's stock valued at $159,000 after purchasing an additional 5,379 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Perella Weinberg Partners by 16.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company's stock worth $174,000 after acquiring an additional 1,753 shares during the period. Intech Investment Management LLC bought a new position in shares of Perella Weinberg Partners in the 3rd quarter worth approximately $197,000. PDT Partners LLC bought a new stake in Perella Weinberg Partners during the third quarter valued at approximately $210,000. Finally, Arizona State Retirement System increased its stake in shares of Perella Weinberg Partners by 15.3% in the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company's stock worth $212,000 after purchasing an additional 1,724 shares in the last quarter. 41.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities raised their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a "market outperform" rating in a report on Wednesday, October 9th.

Perella Weinberg Partners Stock Performance

PWP stock traded up $0.63 on Thursday, hitting $25.98. 495,737 shares of the company's stock were exchanged, compared to its average volume of 435,551. Perella Weinberg Partners has a 12-month low of $10.73 and a 12-month high of $26.62. The stock has a market cap of $2.29 billion, a P/E ratio of -10.70 and a beta of 1.57. The firm has a 50 day moving average price of $22.58 and a two-hundred day moving average price of $19.10.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping 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 company had revenue of $278.20 million during the quarter, compared to analyst estimates of $196.42 million. During the same period last year, the firm posted $0.12 EPS. Perella Weinberg Partners's revenue for the quarter was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.28 annualized dividend and a dividend yield of 1.08%. Perella Weinberg Partners's dividend payout ratio (DPR) is presently -11.81%.

Insider Activity

In other news, CEO Andrew Bednar sold 300,579 shares of the stock in a transaction 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 in the company, valued at approximately $13,865,129.28. This represents a 34.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Dietrich Becker sold 442,889 shares of the company'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 $10,841,922.72. Following the completion of the transaction, the president now owns 379,140 shares in the company, valued at approximately $9,281,347.20. This represents a 53.88 % 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

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.