Perella Weinberg Partners $PWP Stock: William Blair Investment Management LLC Reduces Position

William Blair Investment Management LLC cut its position in Perella Weinberg Partners (NASDAQ:PWP) by 13.3% during the third quarter, Holdings Channel reports. The firm owned 3,804,547 shares of the company’s stock after selling 585,994 shares during the period. William Blair Investment Management LLC’s holdings in Perella Weinberg Partners were worth $62,052,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of Perella Weinberg Partners by 64.1% in the third quarter. Russell Investments Group Ltd. now owns 1,362,300 shares of the company’s stock worth $22,219,000 after purchasing an additional 531,907 shares during the last quarter. State of Wyoming acquired a new stake in shares of Perella Weinberg Partners during the third quarter worth about $141,000. Sterling Capital Management LLC boosted its position in Perella Weinberg Partners by 902.0% in the third quarter. Sterling Capital Management LLC now owns 2,475 shares of the company’s stock valued at $40,000 after buying an additional 2,228 shares during the last quarter. T3 Companies LLC purchased a new stake in Perella Weinberg Partners in the third quarter valued at approximately $285,000. Finally, Kings Path Partners LLC acquired a new position in Perella Weinberg Partners in the 3rd quarter worth approximately $360,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $20.00 price target (up from $19.00) on shares of Perella Weinberg Partners in a report on Friday, October 30th. Weiss Ratings raised shares of Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, November 2nd. Wall Street Zen raised shares of Perella Weinberg Partners from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Finally, The Goldman Sachs Group increased their price objective on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.75.

Perella Weinberg Partners Stock Down 1.3%

Shares of PWP stock traded down $0.18 on Friday, hitting $13.26. The company had a trading volume of 984,062 shares, compared to its average volume of 1,801,654. The firm has a market cap of $1.31 billion, a P/E ratio of 34.00 and a beta of 1.67. The company has a 50-day moving average price of $14.23 and a 200-day moving average price of $17.05. Perella Weinberg Partners has a twelve month low of $12.13 and a twelve month high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Thursday, October 29th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.22. The firm had revenue of $251.37 million for the quarter, compared to the consensus estimate of $172.82 million. Perella Weinberg Partners had a negative return on equity of 132.48% and a net margin of 4.35%.

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 24th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, November 24th. Perella Weinberg Partners’s dividend payout ratio is currently 71.79%.

Perella Weinberg Partners Profile

Perella Weinberg Partners is an independent financial advisory firm that provides strategic and financial advice to corporations, financial sponsors, governments and other organizations. Its work includes mergers and acquisitions, strategic transactions, restructuring and advice on capital structure and liability management. Founded in 2006 by investment bankers Joseph Perella and Peter Weinberg, the firm serves clients across North America and Europe and advises on transactions and matters with an international scope.