Royce & Associates LP Grows Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Royce & Associates LP raised its position in Perella Weinberg Partners (NASDAQ:PWP) by 14.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,179,111 shares of the company’s stock after buying an additional 147,424 shares during the quarter. Royce & Associates LP’s holdings in Perella Weinberg Partners were worth $22,769,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of PWP. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Perella Weinberg Partners by 122.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock worth $159,000 after purchasing an additional 5,379 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Perella Weinberg Partners by 16.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock valued at $174,000 after acquiring an additional 1,753 shares during the last quarter. Arizona State Retirement System grew its stake in Perella Weinberg Partners by 15.3% in the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after acquiring an additional 1,724 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Perella Weinberg Partners by 27.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock valued at $215,000 after acquiring an additional 3,237 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Perella Weinberg Partners by 17.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock valued at $272,000 after purchasing an additional 2,537 shares in the last quarter. 41.07% of the stock is owned by institutional investors and hedge funds.

Perella Weinberg Partners Stock Performance

PWP opened at $25.25 on Friday. The company’s 50 day simple moving average is $20.82 and its 200 day simple moving average is $18.12. Perella Weinberg Partners has a 1 year low of $10.44 and a 1 year high of $25.96. The stock has a market capitalization of $2.17 billion, a PE ratio of -10.65 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. The firm had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $196.42 million. Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%. Perella Weinberg Partners’s revenue was up 100.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 earnings per share.

Perella Weinberg Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 1.11%. Perella Weinberg Partners’s dividend payout ratio (DPR) is -11.81%.

Insider Activity

In related news, President Dietrich Becker sold 442,889 shares of Perella Weinberg Partners stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the completion of the sale, the president now owns 379,140 shares in the company, valued at approximately $9,281,347.20. The trade was a 53.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Bednar sold 300,579 shares of Perella Weinberg Partners stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the completion of the sale, the chief executive officer now owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. This trade represents a 34.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 43.53% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JMP Securities upped their target price on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th.

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.