Alberta Investment Management Corp Boosts Position in Perella Weinberg Partners (NASDAQ:PWP)

Key Points

• Alberta Investment Management Corp increased its stake in Perella Weinberg Partners by 32.1% during the first quarter, now holding 52,928 shares valued at approximately $974,000.
• Perella Weinberg Partners reported earnings per share (EPS) of $0.09, missing expectations of $0.16, with revenues also falling short at $155.27 million compared to the forecast of $188.06 million.
• The company announced a quarterly dividend of $0.07 per share, with a scheduled payment date of September 10th and a dividend yield of 1.3%.

Alberta Investment Management Corp grew its stake in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 32.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,928 shares of the company's stock after acquiring an additional 12,869 shares during the period. Alberta Investment Management Corp owned about 0.06% of Perella Weinberg Partners worth $974,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE boosted its holdings in Perella Weinberg Partners by 5.8% in the 1st quarter. US Bancorp DE now owns 18,623 shares of the company's stock valued at $343,000 after purchasing an additional 1,021 shares during the period. Picton Mahoney Asset Management purchased a new stake in shares of Perella Weinberg Partners during the 1st quarter valued at $118,000. Bryce Point Capital LLC purchased a new stake in shares of Perella Weinberg Partners during the 1st quarter valued at $951,000. Royce & Associates LP raised its position in shares of Perella Weinberg Partners by 3.7% during the 1st 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 in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Perella Weinberg Partners during the 1st quarter valued at $748,000. 41.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

PWP has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective 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. 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. The Goldman Sachs Group raised their price target on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a report on Thursday, May 15th. Finally, JMP Securities cut their target price on shares of 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.

Perella Weinberg Partners Trading Up 1.6%

PWP stock traded up $0.34 during midday trading on Tuesday, reaching $22.19. 1,376,865 shares of the company's stock traded hands, compared to its average volume of 1,171,178. The stock has a market cap of $1.96 billion, a P/E ratio of 27.06 and a beta of 1.66. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $27.03. The stock's 50-day moving average is $19.33 and its 200 day moving average is $19.85.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued 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 negative return on equity of 26.14% and a net margin of 6.57%. The company 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. Perella Weinberg Partners's dividend payout ratio is presently 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.