Hotchkis & Wiley Capital Management LLC Sells 323,810 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Hotchkis & Wiley Capital Management LLC cut its stake in Perella Weinberg Partners (NASDAQ:PWP) by 26.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 899,470 shares of the company’s stock after selling 323,810 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 1.05% of Perella Weinberg Partners worth $17,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Perella Weinberg Partners by 122.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock worth $159,000 after buying an additional 5,379 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Perella Weinberg Partners by 16.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock valued at $174,000 after buying an additional 1,753 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Perella Weinberg Partners in the third quarter worth $197,000. PDT Partners LLC purchased a new stake in shares of Perella Weinberg Partners in the third quarter worth $210,000. Finally, Arizona State Retirement System increased its holdings in shares of Perella Weinberg Partners by 15.3% during the second quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after acquiring an additional 1,724 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

Perella Weinberg Partners Trading Down 1.3 %

Shares of PWP opened at $25.46 on Wednesday. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -10.74 and a beta of 1.57. The business’s fifty day simple moving average is $22.35 and its two-hundred day simple moving average is $18.98. Perella Weinberg Partners has a 12 month low of $10.73 and a 12 month high of $26.62.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS 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 company had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $196.42 million. During the same period last year, the firm posted $0.12 earnings per share. Perella Weinberg Partners’s revenue was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, JMP Securities upped their price target on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th.

Insider Activity at Perella Weinberg Partners

In related news, President Dietrich Becker sold 442,889 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the transaction, the president now owns 379,140 shares of the company’s stock, valued at approximately $9,281,347.20. This trade represents a 53.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Bednar sold 300,579 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 directly owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. This represents a 34.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 43.53% of the stock is owned by insiders.

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.