1,442,796 Shares in Perella Weinberg Partners $PWP Purchased by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. bought a new stake in shares of Perella Weinberg Partners (NASDAQ:PWP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,442,796 shares of the company’s stock, valued at approximately $28,019,000.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. lifted its holdings in Perella Weinberg Partners by 13.4% in the first quarter. Raymond James Financial Inc. now owns 879,745 shares of the company’s stock valued at $16,187,000 after buying an additional 104,035 shares during the period. Dynamic Technology Lab Private Ltd lifted its stake in shares of Perella Weinberg Partners by 150.7% in the 1st 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. Jefferies Financial Group Inc. bought a new position in shares of Perella Weinberg Partners in the 1st quarter worth $589,000. Alberta Investment Management Corp boosted its position in shares of Perella Weinberg Partners by 32.1% in the 1st quarter. Alberta Investment Management Corp now owns 52,928 shares of the company’s stock worth $974,000 after purchasing an additional 12,869 shares during the last quarter. Finally, Compound Planning Inc. acquired a new stake in shares of Perella Weinberg Partners during the first quarter worth $433,000. Institutional investors own 41.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PWP shares. Weiss Ratings reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price target on shares of Perella Weinberg Partners from $21.00 to $19.00 and set a “market perform” rating on the stock in a research report on Monday, November 10th. Finally, Wall Street Zen cut shares of Perella Weinberg Partners from a “hold” rating to a “sell” rating in a report on Saturday. One equities research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.00.

Perella Weinberg Partners Stock Performance

NASDAQ PWP opened at $18.70 on Friday. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 28.33 and a beta of 1.63. The business has a 50 day simple moving average of $20.33 and a 200 day simple moving average of $19.95. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results on Friday, November 7th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Perella Weinberg Partners had a net margin of 6.15% and a negative return on equity of 21.55%. The company had revenue of $164.65 million during the quarter, compared to analyst estimates of $179.83 million.

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, November 17th. Perella Weinberg Partners’s dividend payout ratio is 42.42%.

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.