Jacobs Levy Equity Management Inc. Sells 161,037 Shares of Perella Weinberg Partners $PWP

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 27.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 417,725 shares of the company's stock after selling 161,037 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.47% of Perella Weinberg Partners worth $7,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWP. Clark Capital Management Group Inc. lifted its position in Perella Weinberg Partners by 16.9% during the 1st quarter. Clark Capital Management Group Inc. now owns 203,941 shares of the company's stock worth $3,753,000 after buying an additional 29,438 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Perella Weinberg Partners by 79.1% during the 1st quarter. AQR Capital Management LLC now owns 23,435 shares of the company's stock worth $431,000 after buying an additional 10,350 shares during the last quarter. Ancora Advisors LLC boosted its stake in shares of Perella Weinberg Partners by 2.2% during the 1st quarter. Ancora Advisors LLC now owns 207,966 shares of the company's stock worth $3,827,000 after buying an additional 4,520 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Perella Weinberg Partners by 124.4% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,808,172 shares of the company's stock worth $33,270,000 after buying an additional 1,002,387 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Perella Weinberg Partners by 55.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 73,030 shares of the company's stock worth $1,344,000 after buying an additional 26,163 shares during the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Perella Weinberg Partners Trading Down 1.9%

PWP stock traded down $0.42 during mid-day trading on Friday, hitting $22.25. 864,220 shares of the company were exchanged, compared to its average volume of 1,081,935. The business has a 50 day simple moving average of $21.31 and a 200-day simple moving average of $19.36. The stock has a market capitalization of $1.95 billion, a PE ratio of 27.13 and a beta of 1.67. 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 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). Perella Weinberg Partners had a negative return on equity of 26.14% and a net margin of 6.57%.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. Stockholders of record on Friday, August 29th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was 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 currently 34.15%.

Insider Transactions at Perella Weinberg Partners

In related news, President Dietrich Becker sold 177,553 shares of Perella Weinberg Partners stock in a transaction that occurred 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 directly owned 368,469 shares of the company's stock, valued at $8,180,011.80. This trade represents a 32.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 31.82% of the stock is owned by company insiders.

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.