Dynamic Technology Lab Private Ltd Boosts Stock Position in Perella Weinberg Partners $PWP

Key Points

• Dynamic Technology Lab Private Ltd increased its stake in Perella Weinberg Partners by 150.7%, acquiring an additional 24,291 shares worth approximately $743,000.
• Perella Weinberg's quarterly earnings report revealed a loss of $0.09 per share, missing estimates by $0.07, along with revenue of $155.27 million, which fell short of $188.06 million projections.
• The company will pay a $0.07 quarterly dividend on September 10th, representing an annualized payout of $0.28 and a dividend yield of 1.3%.

Dynamic Technology Lab Private Ltd increased its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 150.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,411 shares of the company's stock after acquiring an additional 24,291 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Perella Weinberg Partners were worth $743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWP. Price T Rowe Associates Inc. MD boosted its stake in shares of Perella Weinberg Partners by 18.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,402 shares of the company's stock worth $487,000 after buying an additional 3,176 shares during the last quarter. Northern Trust Corp raised its position in Perella Weinberg Partners by 3.9% during the fourth quarter. Northern Trust Corp now owns 489,964 shares of the company's stock valued at $11,681,000 after acquiring an additional 18,590 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Perella Weinberg Partners in the 4th quarter valued at about $413,000. Bank of America Corp DE increased its stake in shares of Perella Weinberg Partners by 46.1% in the 4th quarter. Bank of America Corp DE now owns 672,481 shares of the company's stock valued at $16,032,000 after purchasing an additional 212,296 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Perella Weinberg Partners in the 4th quarter valued at about $248,000. Hedge funds and other institutional investors own 41.07% of the company's stock.

Perella Weinberg Partners Trading Down 1.9%

NASDAQ:PWP traded down $0.42 during trading hours on Friday, hitting $22.25. 864,220 shares of the stock were exchanged, compared to its average volume of 1,081,935. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $27.03. The firm's fifty day moving average price is $21.31 and its 200 day moving average price is $19.36. The company has a market cap of $1.95 billion, a P/E ratio of 27.13 and a beta of 1.67.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $155.27 million for the quarter, compared to analysts' expectations of $188.06 million.

Perella Weinberg Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 29th. Perella Weinberg Partners's payout ratio is 34.15%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PWP. Wall Street Zen lowered Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Keefe, Bruyette & Woods lifted their price target on 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 issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $23.67.

Insider Buying and Selling

In other news, President Dietrich Becker sold 177,553 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $22.20, for a total value of $3,941,676.60. Following the completion of the sale, the president directly owned 368,469 shares in the company, valued at $8,180,011.80. This represents a 32.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 31.82% of the company's stock.

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.