32,900 Shares in Perella Weinberg Partners $PWP Acquired by Strs Ohio

Key Points

• Strs Ohio purchased 32,900 shares of Perella Weinberg Partners (NASDAQ:PWP) worth approximately $605,000 in the first quarter, indicating growing institutional interest in the company.
• Perella Weinberg Partners recently reported a quarterly loss, with earnings of $0.09 per share, falling short of analyst expectations of $0.16, alongside revenues of $155.27 million against an estimate of $188.06 million.
• The company announced a quarterly dividend of $0.07, translating to an annualized dividend yield of 1.2%, and has a payout ratio of 34.15% based on its earnings.

Strs Ohio bought a new stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,900 shares of the company's stock, valued at approximately $605,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Perella Weinberg Partners by 128.6% in the first quarter. Wellington Management Group LLP now owns 3,009,484 shares of the company's stock valued at $55,375,000 after acquiring an additional 1,692,922 shares during the last quarter. Channing Capital Management LLC boosted its position in Perella Weinberg Partners by 215.2% during the first quarter. Channing Capital Management LLC now owns 2,142,888 shares of the company's stock valued at $39,429,000 after buying an additional 1,463,083 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in Perella Weinberg Partners by 124.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,808,172 shares of the company's stock valued at $33,270,000 after buying an additional 1,002,387 shares during the period. Royce & Associates LP boosted its position in Perella Weinberg Partners by 3.7% during the first quarter. Royce & Associates LP now owns 1,099,154 shares of the company's stock valued at $20,224,000 after buying an additional 39,096 shares during the period. Finally, Raymond James Financial Inc. boosted its position in Perella Weinberg Partners by 13.4% during the first quarter. Raymond James Financial Inc. now owns 879,745 shares of the company's stock valued at $16,187,000 after buying an additional 104,035 shares during the period. Institutional investors own 41.07% of the company's stock.

Insider Buying and Selling at Perella Weinberg Partners

In other Perella Weinberg Partners news, President Dietrich Becker sold 177,553 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $22.20, for a total transaction of $3,941,676.60. Following the completion of the transaction, the president owned 368,469 shares of the company's stock, valued at approximately $8,180,011.80. This trade represents a 32.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 31.82% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on PWP. Wall Street Zen lowered shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Keefe, Bruyette & Woods upped their price target on shares of Perella Weinberg Partners from $23.00 to $24.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $23.67.

Perella Weinberg Partners Price Performance

PWP stock traded up $0.01 during trading on Tuesday, reaching $22.22. The company had a trading volume of 315,648 shares, compared to its average volume of 979,508. Perella Weinberg Partners has a 52 week low of $14.12 and a 52 week high of $27.03. The company has a market cap of $1.94 billion, a P/E ratio of 27.27 and a beta of 1.67. The business has a 50 day moving average of $21.57 and a 200 day moving average of $19.37.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.07). Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 26.14%. The business had revenue of $155.27 million for the quarter, compared to the consensus estimate of $188.06 million.

Perella Weinberg Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Perella Weinberg Partners's dividend payout ratio (DPR) is currently 34.15%.

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.