Nuveen LLC Invests $2.22 Million in Perella Weinberg Partners $PWP

Key Points

• Nuveen LLC purchased 120,548 shares of Perella Weinberg Partners for approximately $2.2 million, representing about 0.14% of the company's stock.
• Perella Weinberg Partners' stock is down 1.2% and currently trades at $22.13, with a market cap of $1.94 billion.
• The company reported a loss in earnings per share for the last quarter, missing estimates by $0.07 with revenues of $155.27 million below expectations.

Nuveen LLC acquired a new stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 120,548 shares of the company's stock, valued at approximately $2,218,000. Nuveen LLC owned approximately 0.14% of Perella Weinberg Partners as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Versant Capital Management Inc bought a new stake in Perella Weinberg Partners during the 1st quarter worth approximately $32,000. GAMMA Investing LLC increased its holdings in Perella Weinberg Partners by 2,401.3% during the 1st quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock worth $70,000 after purchasing an additional 3,674 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Perella Weinberg Partners in the 1st quarter valued at about $118,000. State of Wyoming boosted its position in shares of Perella Weinberg Partners by 180.4% during the fourth quarter. State of Wyoming now owns 8,855 shares of the company's stock worth $211,000 after buying an additional 5,697 shares during the period. Finally, Captrust Financial Advisors bought a new position in shares of Perella Weinberg Partners during the fourth quarter worth about $248,000. 41.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in 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 research report on Monday, August 4th. Wall Street Zen cut shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group lifted their price target 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. One investment analyst has 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 stock currently has an average rating of "Hold" and a consensus price target of $23.67.

Perella Weinberg Partners Price Performance

NASDAQ PWP traded down $0.98 during trading on Wednesday, reaching $20.84. 872,465 shares of the company's stock were exchanged, compared to its average volume of 972,700. The business has a 50 day moving average price of $20.99 and a 200-day moving average price of $19.44. The stock has a market capitalization of $1.82 billion, a P/E ratio of 25.40 and a beta of 1.67. Perella Weinberg Partners has a fifty-two week low of $14.12 and a fifty-two week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued 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). Perella Weinberg Partners had a negative return on equity of 26.14% and a net margin of 6.57%.The business had revenue of $155.27 million for the quarter, compared to the consensus estimate of $188.06 million.

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Perella Weinberg Partners's dividend payout ratio is presently 34.15%.

Insider Buying and Selling at Perella Weinberg Partners

In other news, President Dietrich Becker sold 177,553 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $22.20, for a total transaction of $3,941,676.60. Following the completion of the sale, the president owned 368,469 shares in the company, valued at approximately $8,180,011.80. This trade represents a 32.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 31.82% of the stock is owned by insiders.

Perella Weinberg Partners 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.