Y Intercept Hong Kong Ltd Makes New Investment in Perella Weinberg Partners (NASDAQ:PWP)

Y Intercept Hong Kong Ltd purchased a new stake in shares of Perella Weinberg Partners (NASDAQ:PWP) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 11,083 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PWP. Azora Capital LP lifted its holdings in Perella Weinberg Partners by 4.8% during the 3rd quarter. Azora Capital LP now owns 2,411,042 shares of the company’s stock worth $46,557,000 after buying an additional 110,370 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Perella Weinberg Partners during the second quarter worth $35,715,000. Millennium Management LLC lifted its stake in shares of Perella Weinberg Partners by 2,883.9% during the second quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock valued at $28,012,000 after acquiring an additional 1,666,015 shares during the period. Wasatch Advisors LP boosted its holdings in Perella Weinberg Partners by 13.3% in the third quarter. Wasatch Advisors LP now owns 1,483,429 shares of the company’s stock valued at $28,645,000 after acquiring an additional 174,445 shares during the last quarter. Finally, State Street Corp increased its position in Perella Weinberg Partners by 4.5% in the third quarter. State Street Corp now owns 1,379,418 shares of the company’s stock worth $26,637,000 after purchasing an additional 59,989 shares during the period. Institutional investors and hedge funds own 41.07% of the company’s stock.

Perella Weinberg Partners Stock Down 5.6 %

PWP stock opened at $23.12 on Thursday. Perella Weinberg Partners has a twelve month low of $10.73 and a twelve month high of $26.62. The company has a market cap of $2.04 billion, a P/E ratio of -9.76 and a beta of 1.57. The business’s fifty day moving average is $23.60 and its 200-day moving average is $19.74.

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 the consensus estimate 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 company’s quarterly revenue was up 100.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio is currently -11.81%.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the president now directly owns 379,140 shares in the company, valued at approximately $9,281,347.20. The trade was a 53.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of the firm’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 transaction of $7,358,173.92. Following the sale, the chief executive officer now owns 566,386 shares in the company, valued at $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. Company insiders own 43.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JMP Securities raised 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 research note 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.