Royce & Associates LP trimmed its holdings in Perella Weinberg Partners (NASDAQ:PWP – Free Report) by 19.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 932,891 shares of the company’s stock after selling 230,409 shares during the period. Royce & Associates LP’s holdings in Perella Weinberg Partners were worth $16,139,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in Perella Weinberg Partners during the 4th quarter worth approximately $62,000. Tower Research Capital LLC TRC lifted its holdings in Perella Weinberg Partners by 460.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock worth $100,000 after purchasing an additional 4,232 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Perella Weinberg Partners by 10.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,138 shares of the company’s stock worth $175,000 after purchasing an additional 997 shares during the last quarter. Pictet Asset Management Holding SA acquired a new stake in Perella Weinberg Partners during the 4th quarter worth approximately $187,000. Finally, ProShare Advisors LLC lifted its holdings in Perella Weinberg Partners by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock worth $197,000 after purchasing an additional 733 shares during the last quarter. 41.07% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts recently weighed in on PWP shares. Citizens Jmp dropped their price target on Perella Weinberg Partners from $32.00 to $30.00 and set a “market outperform” rating for the company in a report on Friday, April 10th. The Goldman Sachs Group lifted their price target on Perella Weinberg Partners from $17.50 to $19.50 and gave the stock a “sell” rating in a report on Tuesday, April 14th. Wall Street Zen raised Perella Weinberg Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Keefe, Bruyette & Woods lifted their price target on Perella Weinberg Partners from $21.00 to $23.50 and gave the stock an “outperform” rating in a report on Monday, May 4th. Finally, Weiss Ratings cut Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.50.
Perella Weinberg Partners Price Performance
Shares of NASDAQ PWP opened at $18.97 on Wednesday. The stock has a market capitalization of $1.76 billion, a PE ratio of 79.04 and a beta of 1.74. The business has a fifty day moving average price of $19.05 and a two-hundred day moving average price of $19.18. Perella Weinberg Partners has a fifty-two week low of $15.74 and a fifty-two week high of $25.92.
Perella Weinberg Partners (NASDAQ:PWP – Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.11). The company had revenue of $148.92 million during the quarter, compared to analyst estimates of $158.82 million. Perella Weinberg Partners had a net margin of 2.82% and a negative return on equity of 19.90%.
Perella Weinberg Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.07 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.28 annualized dividend and a yield of 1.5%. Perella Weinberg Partners’s payout ratio is currently 116.67%.
Insiders Place Their Bets
In other Perella Weinberg Partners news, CFO Alexandra Gottschalk sold 51,671 shares of Perella Weinberg Partners stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $19.74, for a total value of $1,019,985.54. Following the completion of the transaction, the chief financial officer directly owned 72,492 shares of the company’s stock, valued at $1,430,992.08. The trade was a 41.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 109,477 shares of company stock valued at $2,034,533. 26.10% of the stock is owned by insiders.
Perella Weinberg Partners Company Profile
Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.
The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.
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