Calamos Advisors LLC Acquires Shares of 93,601 Perella Weinberg Partners (NASDAQ:PWP)

Calamos Advisors LLC acquired a new position in Perella Weinberg Partners (NASDAQ:PWP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 93,601 shares of the company’s stock, valued at approximately $2,231,000.

Several other institutional investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its holdings in Perella Weinberg Partners by 30.4% in the second quarter. The Manufacturers Life Insurance Company now owns 20,167 shares of the company’s stock valued at $328,000 after purchasing an additional 4,697 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Perella Weinberg Partners in the third quarter worth about $406,000. US Bancorp DE acquired a new stake in Perella Weinberg Partners during the third quarter worth about $325,000. Harbor Capital Advisors Inc. raised its position in Perella Weinberg Partners by 72.6% during the third quarter. Harbor Capital Advisors Inc. now owns 49,728 shares of the company’s stock valued at $960,000 after acquiring an additional 20,923 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in Perella Weinberg Partners by 14.3% in the third quarter. Royce & Associates LP now owns 1,179,111 shares of the company’s stock valued at $22,769,000 after acquiring an additional 147,424 shares during the period. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JMP Securities raised their price objective 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. Keefe, Bruyette & Woods cut their price objective on shares of Perella Weinberg Partners from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th.

Insider Transactions at Perella Weinberg Partners

In other 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 value of $10,841,922.72. Following the completion of 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 Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Bednar sold 300,579 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 566,386 shares in the company, 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 2.9 %

Shares of PWP stock opened at $25.77 on Wednesday. Perella Weinberg Partners has a 12-month low of $11.44 and a 12-month high of $27.03. The business’s 50 day moving average is $24.65 and its two-hundred day moving average is $21.87. The company has a market capitalization of $2.27 billion, a P/E ratio of -10.87 and a beta of 1.59.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) 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 analyst estimates of $196.42 million. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The business’s revenue was up 100.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS.

Perella Weinberg Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.09%. Perella Weinberg Partners’s dividend 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.