Alberta Investment Management Corp Grows Stock 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 raised its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 32.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,928 shares of the company's stock after purchasing an additional 12,869 shares during the period. Alberta Investment Management Corp owned approximately 0.06% of Perella Weinberg Partners worth $974,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PWP. FMR LLC increased its position in Perella Weinberg Partners by 3.8% during the fourth quarter. FMR LLC now owns 8,181,941 shares of the company's stock valued at $195,057,000 after acquiring an additional 301,587 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Perella Weinberg Partners by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company's stock worth $75,426,000 after purchasing an additional 260,319 shares during the period. Azora Capital LP boosted its holdings in shares of Perella Weinberg Partners by 3.4% in the fourth quarter. Azora Capital LP now owns 2,492,789 shares of the company's stock worth $59,428,000 after buying an additional 81,747 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Perella Weinberg Partners by 0.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,112,393 shares of the company's stock worth $50,359,000 after buying an additional 15,961 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Perella Weinberg Partners by 13.7% during the fourth quarter. Wellington Management Group LLP now owns 1,316,562 shares of the company's stock valued at $31,387,000 after buying an additional 158,957 shares during the period. 41.07% of the stock is owned by hedge funds and other institutional investors.

Perella Weinberg Partners Trading Up 0.5%

PWP traded up $0.11 during trading on Thursday, hitting $22.33. 1,312,876 shares of the company traded hands, compared to its average volume of 951,078. The company has a market cap of $1.97 billion, a PE ratio of 27.22 and a beta of 1.66. The stock's 50-day simple moving average is $19.51 and its two-hundred day simple moving average is $19.89. 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 posted 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 firm 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 Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a report on Thursday, May 15th. 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. Finally, Wall Street Zen downgraded shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 12th.

About Perella Weinberg Partners

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.