Perella Weinberg Partners $PWP Shares Sold by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC has reduced its stake in Perella Weinberg Partners (PWP) by 61.5%, selling 396,213 shares and now owning approximately 0.29% of the company.
• In a recent earnings report, Perella Weinberg Partners missed analyst expectations, reporting earnings of $0.09 per share against a consensus estimate of $0.16.
• The company announced a quarterly dividend of $0.07 to be paid on September 10th, marking a 1.3% dividend yield for shareholders.

Driehaus Capital Management LLC decreased its position in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 61.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 247,872 shares of the company's stock after selling 396,213 shares during the period. Driehaus Capital Management LLC owned 0.29% of Perella Weinberg Partners worth $4,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Perella Weinberg Partners by 1.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,403 shares of the company's stock worth $701,000 after acquiring an additional 518 shares during the last quarter. Ancora Advisors LLC boosted its stake in Perella Weinberg Partners by 0.4% during the 4th quarter. Ancora Advisors LLC now owns 203,446 shares of the company's stock worth $4,850,000 after purchasing an additional 830 shares during the period. US Bancorp DE grew its position in Perella Weinberg Partners by 5.8% during the 1st quarter. US Bancorp DE now owns 18,623 shares of the company's stock worth $343,000 after purchasing an additional 1,021 shares during the last quarter. MetLife Investment Management LLC increased its stake in Perella Weinberg Partners by 5.5% in the fourth quarter. MetLife Investment Management LLC now owns 32,480 shares of the company's stock valued at $774,000 after purchasing an additional 1,692 shares during the period. Finally, Versant Capital Management Inc acquired a new position in Perella Weinberg Partners in the first quarter valued at $32,000. Hedge funds and other institutional investors own 41.07% of the company's stock.

Perella Weinberg Partners Stock Performance

Perella Weinberg Partners stock traded up $0.84 during midday trading on Thursday, reaching $22.11. The company's stock had a trading volume of 789,358 shares, compared to its average volume of 977,131. The firm has a market capitalization of $1.93 billion, a PE ratio of 26.96 and a beta of 1.67. Perella Weinberg Partners has a fifty-two week low of $14.12 and a fifty-two week high of $27.03. The stock's 50 day simple moving average is $21.03 and its 200 day simple moving average is $19.45.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company 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 declared 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 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 29th. Perella Weinberg Partners's dividend payout ratio (DPR) is presently 34.15%.

Insider Activity at Perella Weinberg Partners

In other Perella Weinberg Partners news, President Dietrich Becker sold 177,553 shares of the company's stock in a transaction 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 sale, the president owned 368,469 shares of the company's stock, valued at approximately $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 accessible through the SEC website. 31.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.