KLP Kapitalforvaltning AS Purchases 3,800 Shares of Perella Weinberg Partners $PWP

KLP Kapitalforvaltning AS increased its position in Perella Weinberg Partners (NASDAQ:PWP) by 36.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,200 shares of the company’s stock after acquiring an additional 3,800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Perella Weinberg Partners were worth $276,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Perella Weinberg Partners in the second quarter worth $1,026,000. Rhumbline Advisers grew its holdings in shares of Perella Weinberg Partners by 2.7% in the first quarter. Rhumbline Advisers now owns 72,801 shares of the company’s stock worth $1,340,000 after acquiring an additional 1,940 shares during the period. Strs Ohio bought a new stake in Perella Weinberg Partners during the first quarter valued at about $605,000. Jane Street Group LLC bought a new stake in Perella Weinberg Partners during the first quarter valued at about $2,577,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in Perella Weinberg Partners by 150.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 40,411 shares of the company’s stock valued at $743,000 after purchasing an additional 24,291 shares during the period. Institutional investors own 41.07% of the company’s stock.

Insider Buying and Selling at Perella Weinberg Partners

In other news, President Dietrich Becker sold 177,553 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $22.20, for a total value of $3,941,676.60. Following the completion of the transaction, the president owned 368,469 shares of the company’s stock, valued at $8,180,011.80. This represents a 32.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 31.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PWP. Keefe, Bruyette & Woods cut their price target on Perella Weinberg Partners from $24.00 to $21.00 and set a “hold” rating for the company in a report on Monday, October 13th. Wall Street Zen lowered Perella Weinberg Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.67.

Perella Weinberg Partners Stock Down 1.5%

NASDAQ PWP opened at $19.22 on Monday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 23.44 and a beta of 1.65. The business has a 50-day moving average price of $21.46 and a 200-day moving average price of $19.54. Perella Weinberg Partners has a twelve month low of $14.12 and a twelve month high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Friday, August 1st. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The business had revenue of $155.27 million during the quarter, compared to the consensus estimate of $188.06 million. Perella Weinberg Partners had a negative return on equity of 26.14% and a net margin of 6.57%.

Perella Weinberg Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Perella Weinberg Partners’s dividend payout ratio is 34.15%.

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.