Perella Weinberg Partners $PWP Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Perella Weinberg Partners by 6.9% in the fourth quarter, adding 241,363 shares to bring its total holdings to 3.72 million shares, or about 4.19% of the company.
• Perella Weinberg Partners reported weaker-than-expected quarterly results, with EPS of $0.05 versus analysts’ estimate of $0.16 and revenue of $148.92 million versus expectations of $158.82 million.
• The company recently declared a quarterly dividend of $0.07 per share, which annualizes to $0.28 and yields about 1.5%; however, the payout ratio is high at 116.67%.

Vanguard Group Inc. lifted its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,722,756 shares of the company's stock after buying an additional 241,363 shares during the period. Vanguard Group Inc. owned approximately 4.19% of Perella Weinberg Partners worth $64,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State of Alaska Department of Revenue boosted its position in shares of Perella Weinberg Partners by 752.4% during the fourth quarter. State of Alaska Department of Revenue now owns 21,497 shares of the company's stock worth $371,000 after buying an additional 18,975 shares during the period. Harbor Capital Advisors Inc. lifted its position in Perella Weinberg Partners by 10.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,138 shares of the company's stock worth $175,000 after purchasing an additional 997 shares during the period. SG Americas Securities LLC lifted its position in Perella Weinberg Partners by 104.3% in the fourth quarter. SG Americas Securities LLC now owns 18,662 shares of the company's stock worth $323,000 after purchasing an additional 9,526 shares during the period. JPMorgan Chase & Co. lifted its position in Perella Weinberg Partners by 628.2% in the third quarter. JPMorgan Chase & Co. now owns 238,018 shares of the company's stock worth $5,075,000 after purchasing an additional 205,334 shares during the period. Finally, Penn Capital Management Company LLC lifted its position in Perella Weinberg Partners by 18.4% in the third quarter. Penn Capital Management Company LLC now owns 690,318 shares of the company's stock worth $14,733,000 after purchasing an additional 107,508 shares during the period. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ:PWP opened at $18.41 on Friday. Perella Weinberg Partners has a one year low of $15.74 and a one year high of $25.92. The stock has a fifty day moving average of $18.86 and a 200-day moving average of $19.22. The company has a market capitalization of $1.71 billion, a PE ratio of 76.71 and a beta of 1.74.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $148.92 million for the quarter, compared to analyst estimates of $158.82 million.

Perella Weinberg Partners Announces Dividend

The business 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 dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, June 1st. Perella Weinberg Partners's dividend payout ratio is 116.67%.

Insider Activity at Perella Weinberg Partners

In other news, CFO Alexandra Gottschalk sold 51,671 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $19.74, for a total transaction of $1,019,985.54. Following the completion of the sale, the chief financial officer owned 72,492 shares in the company, valued at approximately $1,430,992.08. This represents a 41.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 26.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PWP shares. Wall Street Zen upgraded Perella Weinberg Partners from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. The Goldman Sachs Group upped their target price on Perella Weinberg Partners from $17.50 to $19.50 and gave the stock a "sell" rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods upped their target price on Perella Weinberg Partners from $21.00 to $23.50 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Weiss Ratings downgraded Perella Weinberg Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. Finally, Citizens Jmp cut their target price on Perella Weinberg Partners from $32.00 to $30.00 and set a "market outperform" rating for the company in a research report on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Perella Weinberg Partners currently has an average rating of "Hold" and a consensus price target of $23.50.

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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