Perella Weinberg Partners $PWP Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC raised its stake in Perella Weinberg Partners (NASDAQ:PWP) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 406,078 shares of the company’s stock after purchasing an additional 21,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in Perella Weinberg Partners were worth $7,886,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in Perella Weinberg Partners by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 196,289 shares of the company’s stock worth $3,612,000 after purchasing an additional 5,736 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Perella Weinberg Partners by 18.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 29,466 shares of the company’s stock valued at $542,000 after purchasing an additional 4,508 shares in the last quarter. Banque Pictet & Cie SA acquired a new position in Perella Weinberg Partners during the 1st quarter worth approximately $605,000. Emerald Mutual Fund Advisers Trust acquired a new position in Perella Weinberg Partners during the 1st quarter worth approximately $3,798,000. Finally, New York State Common Retirement Fund raised its stake in shares of Perella Weinberg Partners by 402.6% during the 1st quarter. New York State Common Retirement Fund now owns 849,590 shares of the company’s stock worth $15,632,000 after buying an additional 680,563 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on PWP shares. Keefe, Bruyette & Woods cut their price objective on Perella Weinberg Partners from $24.00 to $21.00 and set a “hold” rating for the company in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Perella Weinberg Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.67.

Perella Weinberg Partners Stock Down 4.4%

NASDAQ PWP opened at $18.02 on Friday. Perella Weinberg Partners has a fifty-two week low of $14.12 and a fifty-two week high of $27.03. The business has a fifty day moving average of $20.62 and a 200-day moving average of $19.85. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 21.98 and a beta of 1.63.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $164.65 million for the quarter, compared to analysts’ expectations of $179.83 million. Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 26.14%.

Perella Weinberg Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, November 17th. Perella Weinberg Partners’s payout ratio is presently 34.15%.

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.