Bryce Point Capital LLC Acquires Shares of 51,695 Perella Weinberg Partners (NASDAQ:PWP)

Key Points

• Bryce Point Capital LLC invested $951,000 in Perella Weinberg Partners, acquiring 51,695 shares during the first quarter, making it the 24th largest holding in their portfolio.
• Perella Weinberg Partners reported earnings per share of $0.28, exceeding analysts' expectations of $0.21, along with a revenue of $211.83 million for the quarter.
• The firm recently declared a quarterly dividend of $0.07 per share, representing a yield of 1.36% and indicating a payout ratio of -65.12%.

Bryce Point Capital LLC purchased a new stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 51,695 shares of the company's stock, valued at approximately $951,000. Perella Weinberg Partners accounts for approximately 0.7% of Bryce Point Capital LLC's portfolio, making the stock its 24th largest position. Bryce Point Capital LLC owned approximately 0.06% of Perella Weinberg Partners at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc acquired a new stake in shares of Perella Weinberg Partners in the 1st quarter valued at approximately $32,000. Quadrant Capital Group LLC raised its holdings in shares of Perella Weinberg Partners by 43.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company's stock valued at $37,000 after purchasing an additional 470 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Perella Weinberg Partners by 2,401.3% in the first quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock valued at $70,000 after purchasing an additional 3,674 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Perella Weinberg Partners in the fourth quarter valued at approximately $179,000. Finally, State of Wyoming raised its holdings in shares of Perella Weinberg Partners by 180.4% in the fourth quarter. State of Wyoming now owns 8,855 shares of the company's stock valued at $211,000 after purchasing an additional 5,697 shares during the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Price Performance

PWP stock traded down $0.72 during midday trading on Thursday, reaching $20.02. The company had a trading volume of 1,040,940 shares, compared to its average volume of 922,152. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -46.55 and a beta of 1.66. The stock has a 50 day moving average price of $19.13 and a 200-day moving average price of $19.98. Perella Weinberg Partners has a 1-year low of $14.12 and a 1-year high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.21 by $0.07. The firm had revenue of $211.83 million during the quarter, compared to the consensus estimate of $200.29 million. Perella Weinberg Partners had a negative return on equity of 36.47% and a negative net margin of 1.17%. During the same quarter in the previous year, the firm earned ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Wednesday, May 14th. Perella Weinberg Partners's payout ratio is -65.12%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PWP shares. The Goldman Sachs Group raised their target price on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research note on Thursday, May 15th. Keefe, Bruyette & Woods cut shares of Perella Weinberg Partners from a "moderate buy" rating to a "hold" rating and raised their target price for the company from $22.00 to $23.00 in a research note on Monday, July 14th. Wall Street Zen cut shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, JMP Securities reduced their price objective on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th.

About Perella Weinberg Partners

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.