Royce & Associates LP Buys 147,424 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Royce & Associates LP lifted its position in shares of Perella Weinberg Partners (NASDAQ:PWP) by 14.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,179,111 shares of the company’s stock after purchasing an additional 147,424 shares during the period. Royce & Associates LP owned 1.37% of Perella Weinberg Partners worth $22,769,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Perella Weinberg Partners by 122.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock worth $159,000 after buying an additional 5,379 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 valued at $174,000 after purchasing an additional 1,753 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Perella Weinberg Partners by 15.3% during the second quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after purchasing an additional 1,724 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Perella Weinberg Partners by 27.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock valued at $215,000 after purchasing an additional 3,237 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Perella Weinberg Partners by 17.9% during the second 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 during the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Perella Weinberg Partners

In other Perella Weinberg Partners news, CEO Andrew Bednar sold 300,579 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $7,358,173.92. Following the transaction, the chief executive officer now directly owns 566,386 shares in the company, valued at $13,865,129.28. This represents a 34.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Dietrich Becker sold 442,889 shares of the company’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 $10,841,922.72. Following the completion of the transaction, the president now 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 disclosure for this sale can be found here. 43.53% of the stock is currently owned by insiders.

Perella Weinberg Partners Stock Down 1.9 %

Shares of PWP opened at $25.25 on Friday. The company has a market capitalization of $2.17 billion, a P/E ratio of -10.65 and a beta of 1.49. The firm has a 50 day moving average of $20.82 and a 200 day moving average of $18.12. Perella Weinberg Partners has a twelve month low of $10.44 and a twelve month high of $25.96.

Perella Weinberg Partners (NASDAQ:PWP) last released its 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 company 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 for the quarter was up 100.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.12 EPS.

Perella Weinberg Partners Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, JMP Securities lifted 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.

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.