Private Advisor Group LLC bought a new stake in Perella Weinberg Partners (NASDAQ:PWP – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 70,965 shares of the company’s stock, valued at approximately $646,000. Private Advisor Group LLC owned 0.08% of Perella Weinberg Partners as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Perella Weinberg Partners by 44.9% in the first quarter. Wellington Management Group LLP now owns 7,733,672 shares of the company’s stock valued at $73,017,000 after buying an additional 2,396,198 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Perella Weinberg Partners in the first quarter worth $7,636,000. Bank of America Corp DE raised its holdings in Perella Weinberg Partners by 225.3% in the first quarter. Bank of America Corp DE now owns 784,157 shares of the company’s stock worth $7,411,000 after purchasing an additional 543,075 shares during the period. Vanguard Group Inc. raised its holdings in Perella Weinberg Partners by 33.1% in the first quarter. Vanguard Group Inc. now owns 1,796,676 shares of the company’s stock worth $16,979,000 after purchasing an additional 446,362 shares during the period. Finally, Azora Capital LP raised its holdings in Perella Weinberg Partners by 83.2% in the fourth quarter. Azora Capital LP now owns 832,860 shares of the company’s stock worth $8,162,000 after purchasing an additional 378,280 shares during the period. Institutional investors own 39.38% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on PWP shares. The Goldman Sachs Group raised their target price on shares of Perella Weinberg Partners from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, August 4th. TheStreet cut shares of Perella Weinberg Partners from a “c-” rating to a “d+” rating in a research note on Thursday, May 18th.
Perella Weinberg Partners Stock Down 1.2 %
PWP stock opened at $10.53 on Friday. The firm has a market cap of $899.38 million, a P/E ratio of -10.22 and a beta of 1.56. The company’s 50-day moving average price is $9.79 and its two-hundred day moving average price is $9.18. Perella Weinberg Partners has a 12 month low of $6.14 and a 12 month high of $12.00.
Perella Weinberg Partners (NASDAQ:PWP – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $165.55 million for the quarter. Perella Weinberg Partners had a negative net margin of 0.81% and a positive return on equity of 32.12%.
Perella Weinberg Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Thursday, August 31st. Perella Weinberg Partners’s payout ratio is -27.18%.
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 advice services related to mission-critical strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, capital markets advisory, private capital placement, and financing and capital advisory solutions focused on restructuring and liability management, as well as underwriting and research services primarily for the energy and related industries.
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