92,860 Shares in Perella Weinberg Partners (NASDAQ:PWP) Acquired by Wescott Financial Advisory Group LLC

Wescott Financial Advisory Group LLC purchased a new stake in shares of Perella Weinberg Partners (NASDAQ:PWP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 92,860 shares of the company’s stock, valued at approximately $1,509,000. Wescott Financial Advisory Group LLC owned approximately 0.10% of Perella Weinberg Partners at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PWP. Westwood Holdings Group Inc. acquired a new position in Perella Weinberg Partners in the 2nd quarter valued at $35,715,000. William Blair Investment Management LLC bought a new position in shares of Perella Weinberg Partners in the second quarter worth about $20,198,000. Wasatch Advisors LP boosted its stake in Perella Weinberg Partners by 113.0% during the 1st quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock valued at $20,384,000 after purchasing an additional 765,461 shares during the period. Boston Partners increased its position in Perella Weinberg Partners by 247.7% in the 1st quarter. Boston Partners now owns 534,968 shares of the company’s stock worth $7,568,000 after buying an additional 381,091 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Perella Weinberg Partners by 17.5% during the first quarter. Russell Investments Group Ltd. now owns 1,114,240 shares of the company’s stock worth $15,744,000 after buying an additional 166,168 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. JMP Securities restated a “market outperform” rating and set a $22.00 price objective on shares of Perella Weinberg Partners in a report on Monday, August 5th.

Perella Weinberg Partners Stock Performance

Shares of PWP stock opened at $19.80 on Wednesday. The firm has a fifty day moving average of $18.65 and a 200-day moving average of $16.33. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -10.65 and a beta of 1.50. Perella Weinberg Partners has a 52-week low of $9.30 and a 52-week high of $20.58.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.26. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The firm had revenue of $272.00 million during the quarter, compared to analyst estimates of $179.35 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. The company’s quarterly revenue was up 64.3% compared to the same quarter last year.

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.41%. Perella Weinberg Partners’s payout ratio is presently -15.05%.

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.