Perella Weinberg Partners (NASDAQ:PWP) Shares Sold by Wescott Financial Advisory Group LLC

Wescott Financial Advisory Group LLC decreased its holdings in Perella Weinberg Partners (NASDAQ:PWP) by 62.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,939 shares of the company’s stock after selling 57,921 shares during the period. Wescott Financial Advisory Group LLC’s holdings in Perella Weinberg Partners were worth $675,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Perella Weinberg Partners by 6.7% in the first quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock worth $35,212,000 after acquiring an additional 155,855 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Perella Weinberg Partners in the second quarter worth $35,715,000. Millennium Management LLC grew its stake in shares of Perella Weinberg Partners by 2,883.9% in the second quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock worth $28,012,000 after acquiring an additional 1,666,015 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Perella Weinberg Partners during the second quarter worth $20,198,000. Finally, Royce & Associates LP grew its stake in shares of Perella Weinberg Partners by 14.3% during the third quarter. Royce & Associates LP now owns 1,179,111 shares of the company’s stock worth $22,769,000 after purchasing an additional 147,424 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Insider Activity at Perella Weinberg Partners

In related news, President Dietrich Becker sold 442,889 shares of the business’s 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 directly owns 379,140 shares of the company’s stock, valued at $9,281,347.20. The trade was a 53.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of the business’s stock in a transaction 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. 43.53% of the stock is owned by corporate insiders.

Perella Weinberg Partners Trading Down 0.5 %

Shares of PWP stock opened at $25.64 on Friday. The firm has a fifty day moving average price of $21.56 and a 200 day moving average price of $18.51. The company has a market cap of $2.26 billion, a P/E ratio of -10.82 and a beta of 1.49. Perella Weinberg Partners has a 12 month low of $10.73 and a 12 month high of $26.62.

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

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 $0.07 dividend. 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 1.09%. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -11.81%.

Wall Street Analyst Weigh In

Separately, JMP Securities boosted 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.

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.