Vanguard Group Inc. Sells 13,224 Shares of Perella Weinberg Partners $PWP

Key Points

• Vanguard Group Inc. reduced its holdings in Perella Weinberg Partners by 0.4%, now owning approximately 3.63% of the company's shares worth $57.97 million.
• Perella Weinberg Partners recently had a quarterly dividend announcement of $0.07, representing an annual yield of 1.2% and a payout ratio of 34.15%.
• The company reported earnings of $0.09 EPS for the quarter, missing expectations, with revenue of $155.27 million compared to estimated revenue of $188.06 million.

Vanguard Group Inc. decreased its stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,150,620 shares of the company's stock after selling 13,224 shares during the quarter. Vanguard Group Inc. owned approximately 3.63% of Perella Weinberg Partners worth $57,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in Perella Weinberg Partners in the 1st quarter worth approximately $32,000. GAMMA Investing LLC lifted its position in Perella Weinberg Partners by 2,401.3% in the 1st quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock worth $70,000 after buying an additional 3,674 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in Perella Weinberg Partners in the 1st quarter worth approximately $118,000. State of Wyoming lifted its position in Perella Weinberg Partners by 180.4% in the 4th quarter. State of Wyoming now owns 8,855 shares of the company's stock worth $211,000 after buying an additional 5,697 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Perella Weinberg Partners in the 4th quarter worth approximately $248,000. Hedge funds and other institutional investors own 41.07% of the company's stock.

Insider Activity

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

Perella Weinberg Partners Trading Up 0.8%

PWP traded up $0.18 during trading on Thursday, hitting $22.60. The stock had a trading volume of 895,499 shares, compared to its average volume of 965,591. The firm has a market cap of $1.98 billion, a PE ratio of 27.58 and a beta of 1.66. Perella Weinberg Partners has a 12 month low of $14.12 and a 12 month high of $27.03. The company has a 50 day simple moving average of $20.70 and a 200-day simple moving average of $19.50.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.09 earnings per share (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 company had revenue of $155.27 million for the quarter, compared to the consensus estimate of $188.06 million.

Perella Weinberg Partners Dividend Announcement

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 issued a dividend of $0.07 per share. The ex-dividend date is Friday, August 29th. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. Perella Weinberg Partners's payout ratio is presently 34.15%.

Analyst Ratings Changes

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

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.