Perella Weinberg Partners (NASDAQ:PWP) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its position in Perella Weinberg Partners (NASDAQ:PWP) by 65.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 732,316 shares of the company’s stock after selling 1,381,322 shares during the period. Wellington Management Group LLP owned approximately 0.85% of Perella Weinberg Partners worth $8,786,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Wasatch Advisors LP acquired a new stake in Perella Weinberg Partners during the 4th quarter worth about $8,281,000. Azora Capital LP lifted its holdings in Perella Weinberg Partners by 55.4% in the fourth quarter. Azora Capital LP now owns 426,963 shares of the company’s stock valued at $5,222,000 after acquiring an additional 152,270 shares during the period. Basswood Capital Management L.L.C. boosted its position in Perella Weinberg Partners by 18.4% in the 4th quarter. Basswood Capital Management L.L.C. now owns 841,307 shares of the company’s stock worth $10,289,000 after purchasing an additional 130,682 shares in the last quarter. Olympiad Research LP acquired a new stake in shares of Perella Weinberg Partners during the 4th quarter worth approximately $195,000. Finally, Quest Partners LLC purchased a new position in shares of Perella Weinberg Partners during the 4th quarter valued at approximately $364,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities upped their price objective on shares of Perella Weinberg Partners from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th.

Perella Weinberg Partners Stock Performance

NASDAQ:PWP opened at $15.52 on Friday. The company has a fifty day moving average of $15.06 and a two-hundred day moving average of $13.66. Perella Weinberg Partners has a fifty-two week low of $7.94 and a fifty-two week high of $16.52. The stock has a market capitalization of $1.46 billion, a PE ratio of -8.34 and a beta of 1.50.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings results on Friday, May 3rd. The company reported ($0.10) earnings per share for the quarter. The company had revenue of $102.13 million during the quarter. Perella Weinberg Partners had a negative net margin of 7.74% and a positive return on equity of 17.87%.

Perella Weinberg Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.28 dividend on an annualized basis and a yield of 1.80%. Perella Weinberg Partners’s payout ratio is presently -15.05%.

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.