Wellington Management Group LLP Has $82.82 Million Stock Holdings in Perella Weinberg Partners $PWP

Wellington Management Group LLP boosted its stake in Perella Weinberg Partners (NASDAQ:PWP) by 32.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,189,199 shares of the company’s stock after purchasing an additional 1,263,345 shares during the period. Wellington Management Group LLP owned about 0.06% of Perella Weinberg Partners worth $82,820,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in shares of Perella Weinberg Partners during the fourth quarter worth $45,000. Kemnay Advisory Services Inc. bought a new position in shares of Perella Weinberg Partners in the 4th quarter valued at $86,000. Tower Research Capital LLC TRC lifted its stake 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 last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Perella Weinberg Partners by 24.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock valued at $124,000 after acquiring an additional 1,338 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Perella Weinberg Partners during the 4th quarter valued at $181,000. Institutional investors and hedge funds own 41.07% of the company’s stock.

Insider Activity at Perella Weinberg Partners

In other news, CEO Andrew Bednar sold 77,753 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $17.41, for a total transaction of $1,353,679.73. Following the completion of the sale, the chief executive officer owned 1,061,260 shares of the company’s stock, valued at $18,476,536.60. This trade represents a 6.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 235,697 shares of company stock worth $4,080,379. Company insiders own 26.10% of the company’s stock.

Perella Weinberg Partners Price Performance

Shares of NASDAQ:PWP opened at $16.39 on Thursday. Perella Weinberg Partners has a 1 year low of $14.11 and a 1 year high of $25.92. The business’s 50-day moving average is $16.32 and its 200-day moving average is $17.61. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 63.04 and a beta of 1.62.

Perella Weinberg Partners (NASDAQ:PWP) last released its earnings results on Friday, July 31st. The company reported $0.20 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 negative return on equity of 35.84% and a net margin of 3.19%.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 28th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. Perella Weinberg Partners’s dividend payout ratio (DPR) is 107.69%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PWP. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $21.00 target price (up from $19.00) on shares of Perella Weinberg Partners in a report on Monday, August 3rd. Wall Street Zen raised Perella Weinberg Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. The Goldman Sachs Group boosted their price target on Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Monday, August 3rd. Finally, Weiss Ratings downgraded Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.00.

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.