Perella Weinberg Partners (NASDAQ:PWP) Shares Acquired by Algert Global LLC

Algert Global LLC lifted its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP) by 18.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,025 shares of the company’s stock after purchasing an additional 23,540 shares during the quarter. Algert Global LLC owned about 0.16% of Perella Weinberg Partners worth $2,405,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PWP. Arizona State Retirement System raised its position in Perella Weinberg Partners by 15.3% in the second quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after purchasing an additional 1,724 shares during the period. Price T Rowe Associates Inc. MD raised its position in 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 valued at $174,000 after purchasing an additional 1,753 shares during the period. Oppenheimer Asset Management Inc. raised its position in Perella Weinberg Partners by 17.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock valued at $272,000 after purchasing an additional 2,537 shares during the period. California State Teachers Retirement System raised its position in Perella Weinberg Partners by 6.0% in the first quarter. California State Teachers Retirement System now owns 45,448 shares of the company’s stock valued at $642,000 after purchasing an additional 2,560 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Perella Weinberg Partners by 27.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock valued at $215,000 after purchasing an additional 3,237 shares during the period. Institutional investors and hedge funds own 41.07% of the company’s stock.

Analysts Set New Price Targets

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

Perella Weinberg Partners Stock Up 0.4 %

Shares of PWP stock opened at $19.52 on Thursday. The business has a 50 day moving average of $18.81 and a two-hundred day moving average of $16.57. Perella Weinberg Partners has a 52 week low of $9.30 and a 52 week high of $20.58. The company has a market cap of $1.84 billion, a P/E ratio of -10.49 and a beta of 1.50.

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

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were given 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 dividend payout ratio is presently -15.05%.

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.