Wasatch Advisors LP Boosts Stake in Perella Weinberg Partners (NASDAQ:PWP)

Wasatch Advisors LP boosted its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 13.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,483,429 shares of the company's stock after purchasing an additional 174,445 shares during the quarter. Wasatch Advisors LP owned about 1.73% of Perella Weinberg Partners worth $28,645,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. purchased a new stake in shares of Perella Weinberg Partners in the 2nd quarter valued at about $35,715,000. Millennium Management LLC lifted its stake in 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 buying an additional 1,666,015 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Perella Weinberg Partners in the second quarter valued at approximately $20,198,000. Boston Partners grew its position in shares of Perella Weinberg Partners by 247.7% during the first quarter. Boston Partners now owns 534,968 shares of the company's stock worth $7,568,000 after acquiring an additional 381,091 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Perella Weinberg Partners by 197.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company's stock valued at $8,381,000 after acquiring an additional 288,186 shares during the period. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Perella Weinberg Partners Stock Performance

Perella Weinberg Partners stock traded up $0.27 during mid-day trading on Friday, reaching $25.67. 223,481 shares of the company were exchanged, compared to its average volume of 658,575. The firm's 50-day simple moving average is $22.22 and its two-hundred day simple moving average is $18.88. 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 $2.26 billion, a PE ratio of -10.83 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its quarterly 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. The firm had revenue of $278.20 million during the quarter, compared to the consensus estimate of $196.42 million. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The company's revenue for the quarter was up 100.1% on a year-over-year basis. During the same period last year, the company earned $0.12 earnings per share.

Perella Weinberg Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.28 annualized dividend and a yield of 1.09%. Perella Weinberg Partners's dividend payout ratio is currently -11.81%.

Insider Buying and Selling

In other news, President Dietrich Becker sold 442,889 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was 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 in the company, valued at $9,281,347.20. This trade represents a 53.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Bednar sold 300,579 shares of the business's 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 completion of the sale, the chief executive officer now owns 566,386 shares in the company, valued at $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. 43.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, JMP Securities increased their price target on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 9th.

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.