Penn Capital Management Company LLC trimmed its position in Perella Weinberg Partners (NASDAQ:PWP – Free Report) by 95.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,464 shares of the company’s stock after selling 655,854 shares during the period. Penn Capital Management Company LLC’s holdings in Perella Weinberg Partners were worth $596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in PWP. Torren Management LLC acquired a new position in shares of Perella Weinberg Partners in the 4th quarter valued at $62,000. Tower Research Capital LLC TRC increased its position in shares of Perella Weinberg Partners by 460.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock valued at $100,000 after acquiring an additional 4,232 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Perella Weinberg Partners by 10.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,138 shares of the company’s stock valued at $175,000 after acquiring an additional 997 shares during the period. Pictet Asset Management Holding SA acquired a new position in shares of Perella Weinberg Partners in the 4th quarter valued at $187,000. Finally, ProShare Advisors LLC increased its position in shares of Perella Weinberg Partners by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock valued at $197,000 after acquiring an additional 733 shares during the period. 41.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their target price on Perella Weinberg Partners from $21.00 to $23.50 and gave the company an “outperform” rating in a research report on Monday, May 4th. The Goldman Sachs Group raised their target price on shares of Perella Weinberg Partners from $17.50 to $19.50 and gave the stock a “sell” rating in a report on Tuesday, April 14th. Citizens Jmp reduced their target price on shares of 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. Weiss Ratings cut shares of Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Perella Weinberg Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.50.
Perella Weinberg Partners Stock Performance
PWP opened at $18.38 on Thursday. Perella Weinberg Partners has a fifty-two week low of $15.74 and a fifty-two week high of $25.92. The company has a fifty day moving average of $19.08 and a two-hundred day moving average of $19.17. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 76.58 and a beta of 1.74.
Perella Weinberg Partners (NASDAQ:PWP – Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). Perella Weinberg Partners had a net margin of 2.82% and a negative return on equity of 19.90%. The firm had revenue of $148.92 million during the quarter, compared to analysts’ expectations of $158.82 million.
Perella Weinberg Partners Dividend Announcement
The company 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 dividend on an annualized basis and a yield of 1.5%. Perella Weinberg Partners’s payout ratio is presently 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 shares were 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 owned 72,492 shares of the company’s stock, valued at approximately $1,430,992.08. The trade was a 41.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 109,477 shares of company stock valued at $2,034,533 over the last three months. 26.10% of the stock is currently owned by insiders.
About Perella Weinberg Partners
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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