Basswood Capital Management L.L.C. Sells 207,539 Shares of Perella Weinberg Partners $PWP

Key Points

• Basswood Capital Management cut its Perella Weinberg Partners stake by 16.1% in the fourth quarter, selling 207,539 shares and leaving it with 1,084,985 shares valued at about $18.77 million.
• Other big institutional holders were mixed but generally remained heavily invested, with firms like William Blair, Vanguard, and Nuveen increasing positions; overall, 41.07% of PWP stock is owned by institutions and hedge funds.
• PWP reported weaker-than-expected quarterly results, posting EPS of $0.05 versus the $0.16 estimate and revenue of $148.92 million versus $158.82 million expected, while also maintaining a quarterly dividend of $0.07 per share.

Basswood Capital Management L.L.C. decreased its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,084,985 shares of the company's stock after selling 207,539 shares during the quarter. Basswood Capital Management L.L.C. owned about 1.22% of Perella Weinberg Partners worth $18,770,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. William Blair Investment Management LLC lifted its holdings in Perella Weinberg Partners by 10.6% in the 4th quarter. William Blair Investment Management LLC now owns 3,946,163 shares of the company's stock worth $68,269,000 after purchasing an additional 379,652 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Perella Weinberg Partners by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 3,722,756 shares of the company's stock worth $64,404,000 after purchasing an additional 241,363 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Perella Weinberg Partners by 73.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company's stock worth $60,911,000 after purchasing an additional 1,328,312 shares during the last quarter. Nuveen LLC lifted its holdings in Perella Weinberg Partners by 29.2% in the 4th quarter. Nuveen LLC now owns 2,861,405 shares of the company's stock worth $49,502,000 after purchasing an additional 646,143 shares during the last quarter. Finally, State Street Corp lifted its holdings in Perella Weinberg Partners by 2.2% in the 4th quarter. State Street Corp now owns 1,798,302 shares of the company's stock worth $31,111,000 after purchasing an additional 39,544 shares during the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Trading Up 1.2%

PWP opened at $15.66 on Friday. Perella Weinberg Partners has a 1-year low of $14.54 and a 1-year high of $25.92. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 65.25 and a beta of 1.64. The business has a 50 day moving average of $18.72 and a 200-day moving average of $18.97.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted 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). Perella Weinberg Partners had a net margin of 2.82% and a negative return on equity of 19.90%. The business had revenue of $148.92 million during the quarter, compared to the consensus estimate of $158.82 million.

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. Perella Weinberg Partners's dividend payout ratio is currently 116.67%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PWP shares. Weiss Ratings upgraded Perella Weinberg Partners from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday. Keefe, Bruyette & Woods boosted their target price on Perella Weinberg Partners from $21.00 to $23.50 and gave the stock an "outperform" rating in a report on Monday, May 4th. Citizens Jmp reduced their target price 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. Finally, The Goldman Sachs Group set a $16.00 target price on Perella Weinberg Partners in a report on Friday. 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 stock. According to MarketBeat, Perella Weinberg Partners has an average rating of "Hold" and an average price target of $22.63.

Insider Buying and Selling at Perella Weinberg Partners

In other news, CFO Alexandra Gottschalk sold 14,018 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $17.46, for a total value of $244,754.28. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 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 corporate 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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