Perella Weinberg Partners $PWP Shares Sold by Azora Capital LP

Key Points

• Azora Capital LP decreased its stake in Perella Weinberg Partners by 26.9%, now holding approximately 2.3% of the company, equating to a value of around $33.5 million.
• President Dietrich Becker sold 177,553 shares of the company, reducing his position by 32.52%, with the transaction valued at about $3.94 million.
• Perella Weinberg Partners recently announced a quarterly dividend of $0.07 per share, representing a 1.3% dividend yield.

Azora Capital LP lessened its stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 26.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,821,865 shares of the company's stock after selling 670,924 shares during the quarter. Perella Weinberg Partners makes up about 2.3% of Azora Capital LP's portfolio, making the stock its 14th biggest holding. Azora Capital LP owned 2.10% of Perella Weinberg Partners worth $33,522,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in shares of Perella Weinberg Partners in the first quarter valued at about $32,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Perella Weinberg Partners in the first quarter valued at about $40,000. GAMMA Investing LLC raised its position in shares of Perella Weinberg Partners by 2,401.3% in the first quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock valued at $70,000 after buying an additional 3,674 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Perella Weinberg Partners in the first quarter valued at about $118,000. Finally, State of Wyoming raised its position in shares of Perella Weinberg Partners by 180.4% in the fourth quarter. State of Wyoming now owns 8,855 shares of the company's stock valued at $211,000 after buying an additional 5,697 shares during the last quarter. Hedge funds and other institutional investors own 41.07% of the company's stock.

Insider Buying and Selling at Perella Weinberg Partners

In related news, President Dietrich Becker sold 177,553 shares of the company's 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 completion of the sale, the president owned 368,469 shares in the company, valued at $8,180,011.80. This represents a 32.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 31.82% of the company's stock.

Wall Street Analyst Weigh In

PWP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods increased 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 report on Monday, August 4th. The Goldman Sachs Group raised their price objective on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a research report on Thursday, May 15th. Finally, 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. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $23.67.

Perella Weinberg Partners Stock Down 4.5%

Shares of PWP traded down $0.99 during trading on Wednesday, reaching $20.83. 778,010 shares of the company traded hands, compared to its average volume of 972,213. Perella Weinberg Partners has a twelve month low of $14.12 and a twelve month high of $27.03. The stock has a market cap of $1.82 billion, a PE ratio of 25.47 and a beta of 1.67. The stock has a 50-day simple moving average of $20.99 and a 200-day simple moving average of $19.44.

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 net margin of 6.57% and a negative return on equity of 26.14%. The business had revenue of $155.27 million during the quarter, compared to analysts' expectations of $188.06 million.

Perella Weinberg Partners Announces Dividend

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