Perella Weinberg Partners (NASDAQ:PWP) Stock Holdings Boosted by Arizona State Retirement System

Arizona State Retirement System boosted its position in Perella Weinberg Partners (NASDAQ:PWP) by 15.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,020 shares of the company’s stock after purchasing an additional 1,724 shares during the quarter. Arizona State Retirement System’s holdings in Perella Weinberg Partners were worth $212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PWP. Wasatch Advisors LP raised its holdings in Perella Weinberg Partners by 113.0% during the first quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock worth $20,384,000 after purchasing an additional 765,461 shares in the last quarter. Boston Partners raised its stake in shares of Perella Weinberg Partners by 247.7% in the 1st quarter. Boston Partners now owns 534,968 shares of the company’s stock worth $7,568,000 after buying an additional 381,091 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Perella Weinberg Partners by 17.5% in the first quarter. Russell Investments Group Ltd. now owns 1,114,240 shares of the company’s stock valued at $15,744,000 after buying an additional 166,168 shares during the period. Vanguard Group Inc. boosted its stake in Perella Weinberg Partners by 6.7% during the first quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock valued at $35,212,000 after buying an additional 155,855 shares in the last quarter. Finally, Azora Capital LP grew its holdings in Perella Weinberg Partners by 55.4% during the fourth quarter. Azora Capital LP now owns 426,963 shares of the company’s stock worth $5,222,000 after acquiring an additional 152,270 shares during the period. 41.07% of the stock is owned by institutional investors and hedge funds.

Perella Weinberg Partners Stock Performance

NASDAQ PWP opened at $18.77 on Thursday. The firm’s 50 day moving average price is $18.47 and its two-hundred day moving average price is $16.12. Perella Weinberg Partners has a twelve month low of $9.30 and a twelve month high of $20.58. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -10.09 and a beta of 1.50.

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

Perella Weinberg Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were issued a $0.07 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.49%. Perella Weinberg Partners’s dividend payout ratio is -15.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $22.00 price objective on shares of Perella Weinberg Partners in a research note on Monday, August 5th. Keefe, Bruyette & Woods boosted their price objective on Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, July 12th.

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.