Interval Partners LP Sells 122,382 Shares of Perella Weinberg Partners $PWP

Key Points

• Interval Partners LP reduced its stake in Perella Weinberg Partners by 68.5%, selling 122,382 shares during Q1, leaving them with 56,220 shares valued at approximately $1,034,000.
• Perella Weinberg Partners reported Q2 earnings that missed estimates, with EPS of $0.09 compared to a consensus estimate of $0.16, and revenue of $155.27 million versus expectations of $188.06 million.
• The company announced a quarterly dividend of $0.07 per share, set to be paid on September 10th, representing an annualized dividend of $0.28 and a yield of 1.3%.

Interval Partners LP reduced its position in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 68.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,220 shares of the company's stock after selling 122,382 shares during the period. Interval Partners LP owned 0.06% of Perella Weinberg Partners worth $1,034,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in Perella Weinberg Partners in the fourth quarter valued at approximately $413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Perella Weinberg Partners by 21.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,898 shares of the company's stock worth $2,191,000 after purchasing an additional 16,057 shares in the last quarter. Raymond James Financial Inc. grew its stake in Perella Weinberg Partners by 13.4% during the 1st quarter. Raymond James Financial Inc. now owns 879,745 shares of the company's stock valued at $16,187,000 after acquiring an additional 104,035 shares in the last quarter. Deutsche Bank AG grew its stake in Perella Weinberg Partners by 53.6% during the 4th quarter. Deutsche Bank AG now owns 45,179 shares of the company's stock valued at $1,077,000 after acquiring an additional 15,763 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Perella Weinberg Partners by 49.6% during the 4th quarter. Millennium Management LLC now owns 180,031 shares of the company's stock valued at $4,292,000 after buying an additional 59,672 shares during the last quarter. Hedge funds and other institutional investors own 41.07% of the company's stock.

Insider Activity

In related news, President Dietrich Becker sold 177,553 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $22.20, for a total value of $3,941,676.60. Following the sale, the president directly owned 368,469 shares of the company's stock, valued at $8,180,011.80. This trade represents a 32.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 31.82% of the company's stock.

Perella Weinberg Partners Price Performance

PWP stock traded up $0.51 during midday trading on Thursday, reaching $22.36. 559,101 shares of the stock were exchanged, compared to its average volume of 978,866. The stock has a market capitalization of $1.96 billion, a PE ratio of 27.25 and a beta of 1.67. Perella Weinberg Partners has a 52 week low of $14.12 and a 52 week high of $27.03. The company has a fifty day moving average price of $21.24 and a 200 day moving average price of $19.38.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.07). The business had revenue of $155.27 million for the quarter, compared to the consensus estimate of $188.06 million. Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 26.14%.

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, August 29th. Perella Weinberg Partners's dividend payout ratio (DPR) is 34.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods upped their price target on Perella Weinberg Partners from $23.00 to $24.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. The Goldman Sachs Group increased their target price on Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a report on Thursday, May 15th. Finally, Wall Street Zen lowered Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $23.67.

Perella Weinberg Partners Company Profile

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.