Azora Capital LP Raises Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Azora Capital LP increased its position in Perella Weinberg Partners (NASDAQ:PWP) by 4.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,411,042 shares of the company’s stock after buying an additional 110,370 shares during the period. Perella Weinberg Partners makes up 2.5% of Azora Capital LP’s holdings, making the stock its 17th biggest holding. Azora Capital LP’s holdings in Perella Weinberg Partners were worth $46,557,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Perella Weinberg Partners by 122.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock worth $159,000 after purchasing an additional 5,379 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Perella Weinberg Partners in the third quarter valued at about $197,000. PDT Partners LLC acquired a new stake in shares of Perella Weinberg Partners during the third quarter worth about $210,000. Price T Rowe Associates Inc. MD grew 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 worth $174,000 after buying an additional 1,753 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Perella Weinberg Partners by 15.3% in the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after acquiring an additional 1,724 shares during the period. 41.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Perella Weinberg Partners

In other Perella Weinberg Partners news, CEO Andrew Bednar sold 300,579 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 $7,358,173.92. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Dietrich Becker sold 442,889 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 trade represents a 53.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 43.53% of the company’s stock.

Analyst Upgrades and Downgrades

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

Perella Weinberg Partners Stock Performance

Shares of Perella Weinberg Partners stock opened at $25.67 on Monday. Perella Weinberg Partners has a one year low of $10.73 and a one year high of $26.62. The company has a market cap of $2.26 billion, a P/E ratio of -10.83 and a beta of 1.49. The firm has a fifty day moving average of $22.22 and a two-hundred day moving average of $18.88.

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

Perella Weinberg Partners Announces Dividend

The firm also recently declared 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 annualized dividend 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.