Perella Weinberg Partners $PWP Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP reduced its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP) by 67.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 366,781 shares of the company’s stock after selling 753,623 shares during the period. Wasatch Advisors LP owned about 0.39% of Perella Weinberg Partners worth $5,854,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in shares of Perella Weinberg Partners in the fourth quarter worth $45,000. Torren Management LLC purchased a new stake in shares of Perella Weinberg Partners during the fourth quarter worth $62,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Perella Weinberg Partners in the fourth quarter valued at $86,000. Tower Research Capital LLC TRC raised its stake in shares of Perella Weinberg Partners by 460.5% in the second 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 in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Perella Weinberg Partners by 24.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock valued at $124,000 after purchasing an additional 1,338 shares during the period. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $21.00 price target (up from $19.00) on shares of Perella Weinberg Partners in a report on Monday, August 3rd. The Goldman Sachs Group lifted their price objective on Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings raised Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.00.

Insider Transactions at Perella Weinberg Partners

In other news, CFO Alexandra Gottschalk sold 14,018 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $17.46, for a total transaction of $244,754.28. Following the completion of the transaction, the chief financial officer directly owned 72,492 shares of the company’s stock, valued at approximately $1,265,710.32. This represents a 16.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Bednar sold 77,753 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $17.41, for a total value of $1,353,679.73. Following the completion of the transaction, the chief executive officer owned 1,061,260 shares in the company, valued at approximately $18,476,536.60. The trade was a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 293,503 shares of company stock valued at $5,094,926 over the last ninety days. 26.10% of the stock is owned by company insiders.

Perella Weinberg Partners Trading Down 2.9%

Shares of PWP opened at $17.25 on Thursday. Perella Weinberg Partners has a twelve month low of $14.11 and a twelve month high of $25.92. The firm’s fifty day simple moving average is $16.04 and its 200-day simple moving average is $18.23. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 66.35 and a beta of 1.64.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.14. The business had revenue of $156.53 million during the quarter, compared to analysts’ expectations of $144.76 million. Perella Weinberg Partners had a net margin of 3.19% and a negative return on equity of 35.84%.

Perella Weinberg Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 28th. Perella Weinberg Partners’s payout ratio is 107.69%.

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.