Perella Weinberg Partners $PWP Stock Holdings Lifted by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Perella Weinberg Partners by 15.3%, acquiring an additional 57,609 shares, bringing its total holdings to 434,173 shares valued at approximately $8 million.
• Perella Weinberg Partners reported a net loss in its latest quarterly earnings, with an EPS of $0.09 that fell short of analysts' expectations of $0.16.
• The company announced a quarterly dividend of $0.07 per share, to be paid on September 10th, 2023, which represents an annualized yield of 1.3%.

Algert Global LLC lifted its stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 15.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 434,173 shares of the company's stock after purchasing an additional 57,609 shares during the quarter. Algert Global LLC owned about 0.50% of Perella Weinberg Partners worth $7,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. lifted its position in shares of Perella Weinberg Partners by 13.4% during the 1st 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 in the last quarter. Boston Partners raised its holdings in shares of Perella Weinberg Partners by 45.7% during the 1st quarter. Boston Partners now owns 490,119 shares of the company's stock worth $9,015,000 after acquiring an additional 153,806 shares during the period. Nuveen LLC acquired a new stake in shares of Perella Weinberg Partners during the 1st quarter worth about $2,218,000. Swiss National Bank increased its position in shares of Perella Weinberg Partners by 2.6% during the 1st quarter. Swiss National Bank now owns 102,600 shares of the company's stock worth $1,888,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Perella Weinberg Partners by 235.5% during the 1st quarter. Deutsche Bank AG now owns 151,595 shares of the company's stock worth $2,789,000 after purchasing an additional 106,416 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company's stock.

Perella Weinberg Partners Stock Performance

NASDAQ PWP traded up $1.31 during trading hours on Friday, hitting $22.40. 1,317,439 shares of the company's stock were exchanged, compared to its average volume of 1,233,791. The business's 50 day moving average is $20.44 and its 200-day moving average is $19.57. The firm has a market capitalization of $1.96 billion, a P/E ratio of 27.32 and a beta of 1.66. Perella Weinberg Partners has a 12-month low of $14.12 and a 12-month high of $27.03.

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

Perella Weinberg Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Perella Weinberg Partners's dividend payout ratio (DPR) is 34.15%.

Wall Street Analyst Weigh In

PWP has been the subject of a number of analyst reports. Wall Street Zen downgraded Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. The Goldman Sachs Group boosted their price objective on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research note on Thursday, May 15th. Finally, Keefe, Bruyette & Woods boosted their target price on Perella Weinberg Partners from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Perella Weinberg Partners has an average rating of "Hold" and an average price target of $23.67.

Insiders Place Their Bets

In other Perella Weinberg Partners news, President Dietrich Becker sold 177,553 shares of Perella Weinberg Partners stock in a transaction on Friday, August 8th. The stock was sold at an average price of $22.20, for a total transaction of $3,941,676.60. Following the sale, the president owned 368,469 shares of the company's stock, valued at $8,180,011.80. The trade was a 32.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 31.82% of the stock is owned by insiders.

Perella Weinberg Partners 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.