Commerce Bank Cuts Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Commerce Bank trimmed its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,065 shares of the company’s stock after selling 415 shares during the period. Commerce Bank’s holdings in Perella Weinberg Partners were worth $252,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Royce & Associates LP boosted its stake in Perella Weinberg Partners by 14.3% during the 3rd quarter. Royce & Associates LP now owns 1,179,111 shares of the company’s stock valued at $22,769,000 after purchasing an additional 147,424 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Perella Weinberg Partners by 72.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,728 shares of the company’s stock valued at $960,000 after purchasing an additional 20,923 shares during the last quarter. US Bancorp DE bought a new position in shares of Perella Weinberg Partners during the 3rd quarter valued at $325,000. SG Americas Securities LLC bought a new position in shares of Perella Weinberg Partners during the 3rd quarter valued at $406,000. Finally, Nantahala Capital Management LLC lifted its holdings in shares of Perella Weinberg Partners by 166.1% during the 2nd quarter. Nantahala Capital Management LLC now owns 265,474 shares of the company’s stock valued at $4,314,000 after buying an additional 165,696 shares during the period. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JMP Securities increased their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th.

Perella Weinberg Partners Price Performance

NASDAQ PWP opened at $25.40 on Thursday. The business’s fifty day moving average price is $21.84 and its 200-day moving average price is $18.69. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -10.70 and a beta of 1.49. 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 released its quarterly 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. 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 analysts’ expectations of $196.42 million. During the same period in the prior year, the firm earned $0.12 EPS. The company’s revenue was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 1.10%. Perella Weinberg Partners’s dividend payout ratio is currently -11.81%.

Insider Buying and Selling

In other Perella Weinberg Partners news, CEO Andrew Bednar sold 300,579 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total value of $7,358,173.92. Following the completion of the sale, the chief executive officer now owns 566,386 shares in the company, valued at approximately $13,865,129.28. This represents a 34.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Dietrich Becker sold 442,889 shares of the stock in a transaction 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 sale, the president now owns 379,140 shares of the company’s stock, valued at $9,281,347.20. The trade was a 53.88 % decrease in their position. The disclosure for this sale can be found here. 43.53% of the stock is owned by insiders.

Perella Weinberg Partners Company 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.