Wellington Management Group LLP Increases Stock Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Wellington Management Group LLP raised its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 200.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,157,605 shares of the company's stock after buying an additional 771,736 shares during the period. Wellington Management Group LLP owned 1.35% of Perella Weinberg Partners worth $22,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in Perella Weinberg Partners by 16.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company's stock valued at $174,000 after purchasing an additional 1,753 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Perella Weinberg Partners by 6.0% during the 1st quarter. California State Teachers Retirement System now owns 45,448 shares of the company's stock worth $642,000 after acquiring an additional 2,560 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Perella Weinberg Partners by 39.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 166,998 shares of the company's stock valued at $2,714,000 after acquiring an additional 46,926 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Perella Weinberg Partners by 122.7% during the 2nd 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 during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Perella Weinberg Partners by 26.8% during the 2nd quarter. Rhumbline Advisers now owns 70,867 shares of the company's stock valued at $1,152,000 after purchasing an additional 14,978 shares during the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Perella Weinberg Partners

In related news, President Dietrich Becker sold 442,889 shares of the business's stock in a transaction 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 transaction, the president now owns 379,140 shares in the company, valued at $9,281,347.20. The trade was a 53.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $7,358,173.92. Following the sale, 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.

Analyst Upgrades and Downgrades

Separately, JMP Securities increased their price target on shares of 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 Down 2.6 %

Shares of NASDAQ:PWP traded down $0.66 during trading on Friday, reaching $24.57. 391,204 shares of the company traded hands, compared to its average volume of 435,376. The firm has a market capitalization of $2.17 billion, a PE ratio of -10.37 and a beta of 1.57. Perella Weinberg Partners has a 52 week low of $10.73 and a 52 week high of $26.62. The company's 50 day moving average is $23.36 and its two-hundred day moving average is $19.53.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings data 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 business 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%. Perella Weinberg Partners's revenue was up 100.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 earnings per share.

Perella Weinberg Partners Dividend Announcement

The firm 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 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, December 4th. Perella Weinberg Partners's dividend payout ratio (DPR) is presently -11.81%.

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.