Basswood Capital Management L.L.C. Has $21.25 Million Stock Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Basswood Capital Management L.L.C. lowered its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,100,619 shares of the company’s stock after selling 83,957 shares during the period. Basswood Capital Management L.L.C. owned about 1.28% of Perella Weinberg Partners worth $21,253,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased 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 last quarter. Intech Investment Management LLC bought a new position in shares of Perella Weinberg Partners in the 3rd quarter valued at approximately $197,000. PDT Partners LLC acquired a new stake in Perella Weinberg Partners in the 3rd quarter worth approximately $210,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Perella Weinberg Partners by 16.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock worth $174,000 after buying an additional 1,753 shares during the period. Finally, Arizona State Retirement System grew its stake in Perella Weinberg Partners by 15.3% in the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after buying an additional 1,724 shares during the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Andrew Bednar sold 300,579 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $7,358,173.92. Following the completion of the transaction, 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 can be accessed through the SEC website. Also, President Dietrich Becker sold 442,889 shares of Perella Weinberg Partners stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction of $10,841,922.72. Following the sale, the president now owns 379,140 shares in the company, valued at approximately $9,281,347.20. This trade represents a 53.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 43.53% of the company’s stock.

Perella Weinberg Partners Trading Up 1.1 %

Shares of Perella Weinberg Partners stock opened at $25.67 on Monday. Perella Weinberg Partners has a 1 year low of $10.73 and a 1 year high of $26.62. The company’s fifty day simple moving average is $22.22 and its 200-day simple moving average is $18.88. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -10.83 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.14. The company had revenue of $278.20 million for the quarter, compared to analyst estimates of $196.42 million. Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%. The business’s quarterly revenue was up 100.1% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.28 annualized dividend and a yield of 1.09%. Perella Weinberg Partners’s dividend payout ratio (DPR) is -11.81%.

Wall Street Analysts Forecast Growth

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

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.