First Eagle Investment Management LLC Buys 142,900 Shares of Perella Weinberg Partners (NASDAQ:PWP)

First Eagle Investment Management LLC lifted its stake in Perella Weinberg Partners (NASDAQ:PWP) by 50.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 426,078 shares of the company’s stock after buying an additional 142,900 shares during the quarter. First Eagle Investment Management LLC owned about 0.45% of Perella Weinberg Partners worth $6,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. William Blair Investment Management LLC bought a new position in Perella Weinberg Partners in the 2nd quarter worth $20,198,000. Wasatch Advisors LP boosted its stake in shares of Perella Weinberg Partners by 113.0% in the first quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock worth $20,384,000 after acquiring an additional 765,461 shares during the period. Boston Partners grew its position in shares of Perella Weinberg Partners by 247.7% during the first quarter. Boston Partners now owns 534,968 shares of the company’s stock worth $7,568,000 after purchasing an additional 381,091 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Perella Weinberg Partners by 17.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,114,240 shares of the company’s stock valued at $15,744,000 after purchasing an additional 166,168 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Perella Weinberg Partners by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock worth $35,212,000 after purchasing an additional 155,855 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on PWP. Keefe, Bruyette & Woods increased their price objective on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, July 12th. JMP Securities reiterated a “market outperform” rating and issued a $22.00 price target on shares of Perella Weinberg Partners in a research note on Monday, August 5th.

Perella Weinberg Partners Price Performance

Shares of PWP opened at $19.62 on Friday. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -10.64 and a beta of 1.50. Perella Weinberg Partners has a 1 year low of $9.30 and a 1 year high of $20.58. The business’s 50 day simple moving average is $18.56 and its 200-day simple moving average is $16.16.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.26. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The company had revenue of $272.00 million for the quarter, compared to the consensus estimate of $179.35 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Perella Weinberg Partners’s revenue was up 64.3% on a year-over-year basis.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were given a dividend of $0.07 per share. The ex-dividend date was Thursday, September 5th. This represents a $0.28 dividend on an annualized basis and a yield of 1.43%. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -15.05%.

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.