Fmr LLC Trims Position in Perella Weinberg Partners (NASDAQ:PWP)

Fmr LLC decreased its position in shares of Perella Weinberg Partners (NASDAQ:PWP) by 0.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,880,354 shares of the company’s stock after selling 4,290 shares during the quarter. Fmr LLC owned approximately 9.18% of Perella Weinberg Partners worth $152,170,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PWP. Vanguard Group Inc. lifted its holdings in Perella Weinberg Partners by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock worth $35,212,000 after purchasing an additional 155,855 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Perella Weinberg Partners by 16.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock worth $174,000 after buying an additional 1,753 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Perella Weinberg Partners by 160.3% during the first quarter. Janus Henderson Group PLC now owns 90,715 shares of the company’s stock worth $1,280,000 after acquiring an additional 55,862 shares during the last quarter. California State Teachers Retirement System increased its holdings in Perella Weinberg Partners by 6.0% in the 1st quarter. California State Teachers Retirement System now owns 45,448 shares of the company’s stock valued at $642,000 after acquiring an additional 2,560 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Perella Weinberg Partners by 270.2% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 28,805 shares of the company’s stock valued at $468,000 after acquiring an additional 21,024 shares during the last quarter. Institutional investors own 41.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities lifted their target price on Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th.

Insider Buying and Selling at Perella Weinberg Partners

In other Perella Weinberg Partners news, President Dietrich Becker sold 442,889 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $10,841,922.72. Following the completion of the transaction, the president now owns 379,140 shares in the company, valued at $9,281,347.20. The trade was a 53.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Bednar sold 300,579 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $7,358,173.92. Following the transaction, the chief executive officer now directly owns 566,386 shares in the company, valued at approximately $13,865,129.28. This represents a 34.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 43.53% of the company’s stock.

Perella Weinberg Partners Trading Down 1.3 %

PWP stock opened at $25.46 on Wednesday. Perella Weinberg Partners has a 52 week low of $10.73 and a 52 week high of $26.62. The company has a fifty day simple moving average of $22.35 and a two-hundred day simple moving average of $18.98.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%. The firm had revenue of $278.20 million during the quarter, compared to the consensus estimate of $196.42 million. During the same quarter last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.10%. The ex-dividend date is Wednesday, December 4th. Perella Weinberg Partners’s payout ratio is -11.81%.

Perella Weinberg Partners Company 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.