Azora Capital LP Has $59.43 Million Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Azora Capital LP raised its holdings in Perella Weinberg Partners (NASDAQ:PWP) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,492,789 shares of the company’s stock after buying an additional 81,747 shares during the period. Perella Weinberg Partners comprises approximately 2.7% of Azora Capital LP’s investment portfolio, making the stock its 13th biggest holding. Azora Capital LP’s holdings in Perella Weinberg Partners were worth $59,428,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Perella Weinberg Partners during the 4th quarter worth approximately $18,493,000. Channing Capital Management LLC bought a new position in Perella Weinberg Partners during the 4th quarter worth $16,207,000. Franklin Resources Inc. acquired a new stake in shares of Perella Weinberg Partners during the fourth quarter worth $13,586,000. Walleye Capital LLC bought a new stake in shares of Perella Weinberg Partners in the fourth quarter valued at about $10,307,000. Finally, Cannell & Spears LLC acquired a new position in shares of Perella Weinberg Partners in the fourth quarter valued at about $8,881,000. 41.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PWP. The Goldman Sachs Group cut their price objective on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a “sell” rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their target price on Perella Weinberg Partners from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Finally, JMP Securities decreased their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th.

Perella Weinberg Partners Price Performance

Shares of PWP opened at $17.59 on Friday. Perella Weinberg Partners has a one year low of $13.82 and a one year high of $27.03. The firm has a 50 day simple moving average of $18.31 and a two-hundred day simple moving average of $22.07. The company has a market cap of $1.53 billion, a P/E ratio of -11.13 and a beta of 1.68.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, May 2nd. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.07. The firm had revenue of $211.83 million for the quarter, compared to analyst estimates of $200.29 million. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. During the same quarter last year, the business posted ($0.10) earnings per share.

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were issued a $0.07 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.28 dividend on an annualized basis and a yield of 1.59%. Perella Weinberg Partners’s payout ratio is presently -17.72%.

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.