Wescott Financial Advisory Group LLC Trims Position in Perella Weinberg Partners (NASDAQ:PWP)

Wescott Financial Advisory Group LLC trimmed its holdings in Perella Weinberg Partners (NASDAQ:PWP) by 62.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 34,939 shares of the company’s stock after selling 57,921 shares during the quarter. Wescott Financial Advisory Group LLC’s holdings in Perella Weinberg Partners were worth $675,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sei Investments Co. raised its holdings in Perella Weinberg Partners by 9.4% during the first quarter. Sei Investments Co. now owns 83,735 shares of the company’s stock worth $1,183,000 after purchasing an additional 7,203 shares in the last quarter. Vanguard Group Inc. raised its holdings in Perella Weinberg Partners by 6.7% during the first quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock worth $35,212,000 after purchasing an additional 155,855 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Perella Weinberg Partners by 16.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock worth $174,000 after purchasing an additional 1,753 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Perella Weinberg Partners by 160.3% during the first quarter. Janus Henderson Group PLC now owns 90,715 shares of the company’s stock worth $1,280,000 after purchasing an additional 55,862 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Perella Weinberg Partners by 21.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 354,326 shares of the company’s stock worth $5,007,000 after purchasing an additional 61,975 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, President Dietrich Becker sold 442,889 shares of the stock in a transaction that occurred 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 sale, the president now directly owns 379,140 shares in the company, valued at $9,281,347.20. This represents a 53.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Bednar sold 300,579 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 in the company, valued at $13,865,129.28. This represents a 34.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 43.53% of the stock is currently owned by company insiders.

Perella Weinberg Partners Trading Down 0.5 %

Shares of PWP opened at $25.64 on Friday. The firm’s 50-day moving average is $21.56 and its two-hundred day moving average is $18.51. Perella Weinberg Partners has a twelve month low of $10.73 and a twelve month high of $26.62. The firm has a market capitalization of $2.26 billion, a P/E ratio of -10.82 and a beta of 1.49.

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

Perella Weinberg Partners Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 1.09%. Perella Weinberg Partners’s payout ratio is currently -11.81%.

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.