Wescott Financial Advisory Group LLC Reduces Stock Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Wescott Financial Advisory Group LLC lessened its stake in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 62.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,939 shares of the company's stock after selling 57,921 shares during the period. Wescott Financial Advisory Group LLC's holdings in Perella Weinberg Partners were worth $675,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Perella Weinberg Partners by 122.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company's stock valued at $159,000 after acquiring an additional 5,379 shares during the period. Intech Investment Management LLC purchased a new stake in Perella Weinberg Partners during the third quarter valued at approximately $197,000. Price T Rowe Associates Inc. MD grew its holdings in 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 purchasing an additional 1,753 shares during the last quarter. Arizona State Retirement System boosted its position 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. Finally, Oppenheimer Asset Management Inc. increased its position in 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 buying an additional 2,537 shares in the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Perella Weinberg Partners Trading Down 0.5 %

Shares of Perella Weinberg Partners stock traded down $0.13 during trading hours on Friday, reaching $25.64. The stock had a trading volume of 481,546 shares, compared to its average volume of 614,571. The stock's 50 day moving average is $21.56 and its 200 day moving average is $18.54. Perella Weinberg Partners has a twelve month low of $10.73 and a twelve month high of $26.62. The firm has a market capitalization of $2.26 billion, a PE ratio of -10.82 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.14. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The business had revenue of $278.20 million during the quarter, compared to the consensus estimate of $196.42 million. During the same period in the prior year, the company posted $0.12 EPS. The business's quarterly 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. Stockholders of record on Wednesday, December 4th will be given a $0.07 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.28 annualized dividend and a dividend yield of 1.09%. Perella Weinberg Partners's dividend payout ratio (DPR) is -11.81%.

Analysts Set New Price Targets

Separately, JMP Securities boosted 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 research report on Wednesday, October 9th.

Insider Transactions at Perella Weinberg Partners

In other news, President Dietrich Becker sold 442,889 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 $10,841,922.72. Following the completion of the transaction, the president now directly owns 379,140 shares in the company, valued at approximately $9,281,347.20. This represents a 53.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of the business'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 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 $13,865,129.28. This trade represents a 34.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 43.53% of the company's stock.

Perella Weinberg Partners Company 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.