Azora Capital LP Acquires 81,747 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Azora Capital LP raised its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,492,789 shares of the company's stock after acquiring an additional 81,747 shares during the quarter. Perella Weinberg Partners accounts for about 2.7% of Azora Capital LP's holdings, making the stock its 13th biggest position. Azora Capital LP owned about 2.83% of Perella Weinberg Partners worth $59,428,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Perella Weinberg Partners by 46.1% during the 4th quarter. Bank of America Corp DE now owns 672,481 shares of the company's stock worth $16,032,000 after purchasing an additional 212,296 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Perella Weinberg Partners in the fourth quarter worth $413,000. Algert Global LLC lifted its position in shares of Perella Weinberg Partners by 137.4% in the fourth quarter. Algert Global LLC now owns 376,564 shares of the company's stock valued at $8,977,000 after acquiring an additional 217,918 shares in the last quarter. Ancora Advisors LLC increased its position in Perella Weinberg Partners by 0.4% during the 4th quarter. Ancora Advisors LLC now owns 203,446 shares of the company's stock worth $4,850,000 after purchasing an additional 830 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Perella Weinberg Partners by 73.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 50,000 shares of the company's stock valued at $1,192,000 after purchasing an additional 21,200 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. JMP Securities reduced their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods raised their price target on Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Finally, The Goldman Sachs Group dropped their price objective on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Wednesday, April 2nd.

Perella Weinberg Partners Stock Performance

Shares of PWP stock traded down $0.22 during trading hours on Tuesday, hitting $16.72. 1,067,195 shares of the company were exchanged, compared to its average volume of 610,275. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -10.58 and a beta of 1.69. Perella Weinberg Partners has a one year low of $13.82 and a one year high of $27.03. The business's 50-day simple moving average is $18.08 and its two-hundred day simple moving average is $22.00.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.07. The business had revenue of $211.83 million for the quarter, compared to analysts' expectations of $200.29 million. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. During the same quarter last year, the company earned ($0.10) EPS.

Perella Weinberg Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.28 annualized dividend and a yield of 1.67%. Perella Weinberg Partners's payout ratio is -65.12%.

About Perella Weinberg Partners

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.