WESTWOOD HOLDINGS GROUP INC
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
WHG$18.55-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Comprehensive Income
(In thousands, except per share data and share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| REVENUES: | ||||
| Advisory fees: | ||||
| Asset-based | $17,774 | $16,902 | $51,730 | $50,734 |
| Performance-based | — | — | — | 555 |
| Trust fees | 5,447 | 5,063 | 15,787 | 15,118 |
| Other, net | 498 | (85) | 1,622 | 145 |
| Total revenues | 23,719 | 21,880 | 69,139 | 66,552 |
| EXPENSES: | ||||
| Employee compensation and benefits | 13,572 | 12,661 | 41,921 | 40,551 |
| Sales and marketing | 644 | 676 | 2,027 | 2,180 |
| Westwood mutual funds | 798 | 872 | 2,374 | 2,350 |
| Information technology | 2,572 | 2,334 | 7,212 | 7,283 |
| Professional services | 1,812 | 1,009 | 4,751 | 3,893 |
| General and administrative | 2,991 | 3,298 | 8,903 | 9,579 |
| (Gain) loss from change in fair value of contingent consideration | 1,824 | 2,483 | 3,682 | (2,655) |
| Acquisition expenses | — | — | — | 209 |
| Total expenses | 24,213 | 23,333 | 70,870 | 63,390 |
| Net operating income (loss) | (494) | (1,453) | (1,731) | 3,162 |
| Net change in unrealized appreciation (depreciation) on private investments | — | — | — | 24 |
| Net investment income | 587 | 247 | 1,590 | 630 |
| Other income | 374 | 5,265 | 783 | 5,876 |
| Income before income taxes | 467 | 4,059 | 642 | 9,692 |
| Income tax provision | 308 | (316) | 530 | 1,704 |
| Net income | $159 | $4,375 | $112 | $7,988 |
| Total comprehensive income | $159 | $4,375 | $112 | $7,988 |
| Less: Comprehensive income (loss) attributable to noncontrolling interest | 54 | 1,019 | (46) | 1,044 |
| Comprehensive income attributable to Westwood Holdings Group, Inc. | $105 | $3,356 | $158 | $6,944 |
| Earnings per share: | ||||
| Basic | $0.01 | $0.42 | $0.02 | $0.87 |
| Diluted | $0.01 | $0.41 | $0.02 | $0.86 |
| Weighted average shares outstanding: | ||||
| Basic | 8,123,714 | 8,002,537 | 8,140,664 | 7,949,773 |
| Diluted | 8,488,372 | 8,116,747 | 8,448,629 | 8,072,739 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.