PEAK6 Investments LLC Purchases 32,356 Shares of Perella Weinberg Partners (NASDAQ:PWP)

PEAK6 Investments LLC boosted its position in shares of Perella Weinberg Partners (NASDAQ:PWP) by 96.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,768 shares of the company’s stock after acquiring an additional 32,356 shares during the quarter. PEAK6 Investments LLC owned 0.08% of Perella Weinberg Partners worth $1,270,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP raised its stake in Perella Weinberg Partners by 358.4% in the third quarter. Quantbot Technologies LP now owns 37,516 shares of the company’s stock valued at $724,000 after buying an additional 29,332 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Perella Weinberg Partners in the 3rd quarter valued at $389,000. Algert Global LLC lifted its holdings in Perella Weinberg Partners by 7.2% during the 3rd quarter. Algert Global LLC now owns 158,646 shares of the company’s stock valued at $3,063,000 after purchasing an additional 10,621 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Perella Weinberg Partners by 32.1% during the third quarter. Eagle Asset Management Inc. now owns 756,540 shares of the company’s stock worth $14,609,000 after purchasing an additional 183,905 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Perella Weinberg Partners by 197.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock valued at $8,381,000 after purchasing an additional 288,186 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Insiders Place Their Bets

In other Perella Weinberg Partners news, President Dietrich Becker sold 442,889 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Bednar sold 300,579 shares of the business’s 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 transaction, the chief executive officer now owns 566,386 shares of the company’s stock, valued at $13,865,129.28. The trade was a 34.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 43.53% of the company’s stock.

Perella Weinberg Partners Trading Up 0.5 %

NASDAQ:PWP opened at $25.79 on Tuesday. The stock has a 50 day simple moving average of $22.22 and a 200 day simple moving average of $18.91. The stock has a market cap of $2.27 billion, a P/E ratio of -10.88 and a beta of 1.49. Perella Weinberg Partners has a 1-year low of $10.73 and a 1-year high of $26.62.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, beating 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 business had revenue of $278.20 million for the quarter, compared to the consensus estimate of $196.42 million. During the same period in the prior year, the company posted $0.12 earnings per share. Perella Weinberg Partners’s revenue was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio is currently -11.81%.

Wall Street Analyst Weigh In

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

Perella Weinberg Partners 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.