22,425 Shares in Perella Weinberg Partners (NASDAQ:PWP) Purchased by Kings Path Partners LLC

Kings Path Partners LLC acquired a new stake in Perella Weinberg Partners (NASDAQ:PWP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,425 shares of the company’s stock, valued at approximately $535,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake 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 period. Westwood Holdings Group Inc. acquired a new stake in shares of Perella Weinberg Partners during the 2nd quarter valued at approximately $35,715,000. Harbor Capital Advisors Inc. boosted its stake in shares of Perella Weinberg Partners by 72.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,728 shares of the company’s stock worth $960,000 after acquiring an additional 20,923 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Perella Weinberg Partners by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,257,620 shares of the company’s stock worth $24,289,000 after acquiring an additional 34,301 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Perella Weinberg Partners by 39.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 166,998 shares of the company’s stock valued at $2,714,000 after purchasing an additional 46,926 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Insider Activity at Perella Weinberg Partners

In other Perella Weinberg Partners news, President Dietrich Becker sold 442,889 shares of Perella Weinberg Partners 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 transaction, the president now owns 379,140 shares in the company, valued at $9,281,347.20. This trade represents a 53.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the chief executive officer now directly owns 566,386 shares of the company’s stock, valued at $13,865,129.28. This represents a 34.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 43.53% of the company’s stock.

Perella Weinberg Partners Price Performance

PWP traded up $0.83 during midday trading on Monday, reaching $23.98. 193,396 shares of the company’s stock were exchanged, compared to its average volume of 495,479. The business’s 50-day moving average price is $24.20 and its 200 day moving average price is $20.56. The stock has a market capitalization of $2.11 billion, a PE ratio of -10.12 and a beta of 1.57. 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 posted 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. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The firm had revenue of $278.20 million for the quarter, compared to analyst estimates of $196.42 million. During the same quarter in the prior year, the company earned $0.12 EPS. Perella Weinberg Partners’s revenue was up 100.1% on a year-over-year basis.

Perella Weinberg Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio is presently -11.81%.

Analyst Ratings Changes

Separately, JMP Securities boosted their target price 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 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.