2,197,867 Shares in Perella Weinberg Partners (NASDAQ:PWP) Acquired by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. bought a new stake in shares of Perella Weinberg Partners (NASDAQ:PWP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,197,867 shares of the company’s stock, valued at approximately $35,715,000. Westwood Holdings Group Inc. owned approximately 2.33% of Perella Weinberg Partners as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC purchased a new position in Perella Weinberg Partners during the second quarter valued at approximately $20,198,000. Wasatch Advisors LP increased its holdings in shares of Perella Weinberg Partners by 113.0% in the 1st quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock valued at $20,384,000 after acquiring an additional 765,461 shares during the period. Boston Partners raised its position in shares of 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 acquiring an additional 381,091 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Perella Weinberg Partners by 17.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,114,240 shares of the company’s stock worth $15,744,000 after purchasing an additional 166,168 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Perella Weinberg Partners by 6.7% during the first quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock valued at $35,212,000 after purchasing an additional 155,855 shares in the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Perella Weinberg Partners Price Performance

Shares of NASDAQ:PWP opened at $19.62 on Friday. The firm has a market capitalization of $1.85 billion, a P/E ratio of -10.55 and a beta of 1.50. The business’s 50-day moving average is $18.59 and its 200 day moving average is $16.20. Perella Weinberg Partners has a 1 year low of $9.30 and a 1 year high of $20.58.

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

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.43%. Perella Weinberg Partners’s payout ratio is currently -15.05%.

Wall Street Analysts Forecast Growth

Several analysts have commented on PWP shares. Keefe, Bruyette & Woods increased their price target on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. JMP Securities reissued a “market outperform” rating and set a $22.00 target price on shares of Perella Weinberg Partners in a research report on Monday, August 5th.

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.