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 reduced its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 26.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,821,865 shares of the company's stock after selling 670,924 shares during the quarter. Perella Weinberg Partners comprises approximately 2.3% of Azora Capital LP's investment portfolio, making the stock its 14th largest position. Azora Capital LP owned about 2.10% of Perella Weinberg Partners worth $33,522,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Perella Weinberg Partners in the 4th quarter valued at $413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Perella Weinberg Partners by 21.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,898 shares of the company's stock valued at $2,191,000 after buying an additional 16,057 shares in the last quarter. Deutsche Bank AG grew its holdings in Perella Weinberg Partners by 53.6% in the 4th quarter. Deutsche Bank AG now owns 45,179 shares of the company's stock valued at $1,077,000 after buying an additional 15,763 shares in the last quarter. Millennium Management LLC grew its holdings in Perella Weinberg Partners by 49.6% in the 4th quarter. Millennium Management LLC now owns 180,031 shares of the company's stock valued at $4,292,000 after buying an additional 59,672 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Perella Weinberg Partners in the 4th quarter valued at $468,000. 41.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Perella Weinberg Partners

In other news, President Dietrich Becker sold 177,553 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $22.20, for a total transaction of $3,941,676.60. Following the completion of the transaction, the president directly owned 368,469 shares in the company, valued at approximately $8,180,011.80. This represents a 32.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 31.82% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PWP shares. Wall Street Zen cut Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. The Goldman Sachs Group upped their target price on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a report on Thursday, May 15th. Finally, Keefe, Bruyette & Woods upped their target price on Perella Weinberg Partners from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $23.67.

Perella Weinberg Partners Trading Down 0.1%

NASDAQ PWP opened at $22.40 on Friday. The stock has a market cap of $1.96 billion, a PE ratio of 27.32 and a beta of 1.66. Perella Weinberg Partners has a twelve month low of $14.12 and a twelve month high of $27.03. The stock has a fifty day simple moving average of $20.79 and a 200-day simple moving average of $19.49.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its quarterly 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). The business had revenue of $155.27 million for 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Perella Weinberg Partners's dividend 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.

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