Azora Capital LP Sells 477,518 Shares of Perella Weinberg Partners $PWP

Azora Capital LP reduced its position in shares of Perella Weinberg Partners (NASDAQ:PWP) by 26.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,344,347 shares of the company’s stock after selling 477,518 shares during the period. Perella Weinberg Partners accounts for approximately 1.2% of Azora Capital LP’s portfolio, making the stock its 29th largest position. Azora Capital LP owned 1.54% of Perella Weinberg Partners worth $26,107,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. increased its position in Perella Weinberg Partners by 13.4% during the 1st quarter. Raymond James Financial Inc. now owns 879,745 shares of the company’s stock valued at $16,187,000 after purchasing an additional 104,035 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in shares of Perella Weinberg Partners by 150.7% during 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Perella Weinberg Partners by 10.9% during the second quarter. Geode Capital Management LLC now owns 1,490,650 shares of the company’s stock valued at $28,952,000 after buying an additional 146,352 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of Perella Weinberg Partners during the second quarter valued at about $28,019,000. Finally, Ceredex Value Advisors LLC raised its stake in Perella Weinberg Partners by 22.7% in the second quarter. Ceredex Value Advisors LLC now owns 428,541 shares of the company’s stock worth $8,322,000 after buying an additional 79,263 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Trading Up 0.8%

Shares of NASDAQ:PWP opened at $18.16 on Wednesday. The stock has a fifty day simple moving average of $18.94 and a two-hundred day simple moving average of $19.95. Perella Weinberg Partners has a 12-month low of $14.12 and a 12-month high of $27.03. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 27.52 and a beta of 1.63.

Perella Weinberg Partners (NASDAQ:PWP) last issued 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). The company had revenue of $164.65 million for the quarter, compared to the consensus estimate of $179.83 million. Perella Weinberg Partners had a net margin of 6.15% and a negative return on equity of 21.55%.

Perella Weinberg Partners Dividend Announcement

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 $0.07 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.28 annualized dividend and a yield of 1.5%. Perella Weinberg Partners’s payout ratio is 42.42%.

Analyst Upgrades and Downgrades

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

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.