Boston Partners Purchases 153,806 Shares of Perella Weinberg Partners $PWP

Key Points

• Boston Partners increased its stake in Perella Weinberg Partners (NASDAQ:PWP) by 45.7%, owning 490,119 shares valued at approximately $9,015,000 after purchasing additional shares in Q1.
• The company recently announced a quarterly dividend of $0.07 per share, set to be paid on September 10th, representing an annual yield of 1.3%.
• Perella Weinberg Partners reported a loss in earnings for the last quarter, with an EPS of $0.09, missing expectations by $0.07, and revenues came in at $155.27 million, below analyst estimates.

Boston Partners boosted its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 45.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,119 shares of the company's stock after purchasing an additional 153,806 shares during the quarter. Boston Partners owned about 0.56% of Perella Weinberg Partners worth $9,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in Perella Weinberg Partners in the 1st quarter worth approximately $32,000. GAMMA Investing LLC lifted its stake in Perella Weinberg Partners by 2,401.3% in the 1st quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock worth $70,000 after purchasing an additional 3,674 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in Perella Weinberg Partners in the 1st quarter worth approximately $118,000. State of Wyoming lifted its stake in Perella Weinberg Partners by 180.4% in the 4th quarter. State of Wyoming now owns 8,855 shares of the company's stock worth $211,000 after purchasing an additional 5,697 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Perella Weinberg Partners in the 4th quarter worth approximately $248,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PWP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Perella Weinberg Partners from $23.00 to $24.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Wall Street Zen cut shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, The Goldman Sachs Group raised their price objective on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $23.67.

Insider Buying and Selling

In related news, President Dietrich Becker sold 177,553 shares of Perella Weinberg Partners stock in a transaction on Friday, August 8th. The shares were sold at an average price of $22.20, for a total value of $3,941,676.60. Following the transaction, the president owned 368,469 shares in the company, valued at $8,180,011.80. This trade represents a 32.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.82% of the stock is currently owned by insiders.

Perella Weinberg Partners Stock Performance

NASDAQ:PWP traded down $0.09 during trading hours on Wednesday, reaching $21.23. The company's stock had a trading volume of 397,857 shares, compared to its average volume of 957,528. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 25.88 and a beta of 1.66. The firm has a 50-day simple moving average of $20.24 and a 200-day simple moving average of $19.61. Perella Weinberg Partners has a 1 year low of $14.12 and a 1 year high of $27.03.

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

Perella Weinberg Partners Dividend Announcement

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

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.