Westwood Hldgs Stock Price, News & Analysis

Westwood Holdings Group, Inc. (NYSE: WHG) reported its first quarter 2023 earnings, reflecting a successful integration of Salient Partners. Key highlights include an acquisition of a further 32% stake in Broadmark Asset Management, raising total equity ownership to nearly 80%. Revenues reached $22.7 million, an increase from $20.5 million in Q4 2022 and $17.2 million in Q1 2022. The net income improved to $0.7 million compared to a net loss of $3.1 million in Q4 2022. Non-GAAP Economic Earnings were reported at $3.6 million, up from a loss of $0.7 million in the previous quarter. The firm has no debt and declared a cash dividend of $0.15 per share. Total assets under management rose to $16.2 billion, showcasing strong performance across its US Value Strategies.

Westwood Holdings Group (NYSE:WHG) will announce its Q1 2023 earnings on April 26, 2023, after the market closes. A live audio webcast and conference call will be held on the same day at 4:30 PM ET (3:30 PM CT). Interested participants can register for the call to receive a personalized dial-in number.

Westwood is an investment management and wealth management firm offering high-conviction equity and multi-asset solutions to institutional and private clients. They focus on U.S. Value Equity and other investment strategies.

For more details, visit westwoodgroup.com.

Westwood Holdings Group (NYSE: WHG) announced the completion of its acquisition of Salient Partners' asset management business on November 18, 2022. This acquisition is projected to enhance earnings per share (EPS) by 100% in 2023. The integration brings new investment strategies and professionals, boosting Westwood's distribution capabilities. For Q4 2022, revenues reached $20.5 million, up from $15.4 million in Q3, but the company reported a net loss of $3.1 million due to acquisition-related expenses. Cash and short-term investments totaled $39.2 million, while stockholders' equity was $110.6 million with no debt. A cash dividend of $0.15 per share was announced for April 2023.

Westwood Holdings Group, Inc. (NYSE:WHG) is set to announce its fourth quarter and fiscal year 2022 earnings on February 15, 2023, after the NYSE market close. A live audio webcast and conference call will occur at 4:30 PM ET. Investors can register for the conference call through a provided link for dial-in details. Westwood is recognized for its focused investment management services, providing solutions through various distinct strategies to institutional and private wealth clients. The firm emphasizes employee ownership and operates out of Dallas, with additional offices in Houston and San Francisco.

Westwood Holdings Group, Inc. (NYSE: WHG) has acquired the asset management business of Salient Partners for $35 million cash, enhancing Westwood's AUM by 33% to $16.3 billion. The acquisition includes a minority stake in Broadmark Asset Management, expanding Westwood's capabilities in Multi-Asset, Real Assets, and Alternatives. The deal is expected to lead to a 100% increase in economic EPS in 2023. The integration promises to enhance investment strategies, while Westwood maintains a debt-free balance sheet.