Perella Weinberg Partners $PWP Shares Purchased by William Blair Investment Management LLC

Key Points

• William Blair Investment Management boosted its stake in Perella Weinberg Partners by 10.6% in the fourth quarter, ending with 3.95 million shares valued at about $68.3 million. Institutional ownership in PWP now stands at 41.07%.
• Perella Weinberg Partners missed Q1 earnings expectations, reporting EPS of $0.05 versus the $0.16 consensus and revenue of $148.92 million versus $158.82 million expected. The stock recently traded at $18.68, near its 50-day and 200-day moving averages.
• The company declared a quarterly dividend of $0.07 per share, payable June 15, for an annualized yield of 1.5%. However, the payout ratio is high at 116.67%, and analyst sentiment remains mixed with a consensus rating of Hold.

William Blair Investment Management LLC lifted its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,946,163 shares of the company's stock after acquiring an additional 379,652 shares during the quarter. William Blair Investment Management LLC owned 4.44% of Perella Weinberg Partners worth $68,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in Perella Weinberg Partners during the third quarter valued at $53,000. Torren Management LLC acquired a new stake in Perella Weinberg Partners during the fourth quarter valued at $62,000. Tower Research Capital LLC TRC grew its position in Perella Weinberg Partners by 460.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company's stock valued at $100,000 after buying an additional 4,232 shares during the period. Harbor Capital Advisors Inc. grew its position in Perella Weinberg Partners by 10.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,138 shares of the company's stock valued at $175,000 after buying an additional 997 shares during the period. Finally, Pictet Asset Management Holding SA acquired a new stake in Perella Weinberg Partners during the fourth quarter valued at $187,000. Institutional investors and hedge funds own 41.07% of the company's stock.

Perella Weinberg Partners Price Performance

PWP opened at $18.68 on Monday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 77.83 and a beta of 1.74. Perella Weinberg Partners has a 52-week low of $15.74 and a 52-week high of $25.92. The firm's fifty day simple moving average is $18.94 and its two-hundred day simple moving average is $19.18.

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 (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.11). The company had revenue of $148.92 million for the quarter, compared to analysts' expectations of $158.82 million. Perella Weinberg Partners had a net margin of 2.82% and a negative return on equity of 19.90%.

Perella Weinberg Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, June 1st. Perella Weinberg Partners's dividend payout ratio (DPR) is currently 116.67%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PWP. Citizens Jmp dropped their price target on shares of Perella Weinberg Partners from $32.00 to $30.00 and set a "market outperform" rating on the stock in a research report on Friday, April 10th. Weiss Ratings lowered shares of Perella Weinberg Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods raised their price target on shares of Perella Weinberg Partners from $21.00 to $23.50 and gave the company an "outperform" rating in a research report on Monday, May 4th. The Goldman Sachs Group raised their price target on shares of Perella Weinberg Partners from $17.50 to $19.50 and gave the company a "sell" rating in a research report on Tuesday, April 14th. Finally, Wall Street Zen upgraded shares of Perella Weinberg Partners from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. 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, the stock has a consensus rating of "Hold" and a consensus price target of $23.50.

Insider Buying and Selling at Perella Weinberg Partners

In other news, CFO Alexandra Gottschalk sold 51,671 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $19.74, for a total value of $1,019,985.54. Following the transaction, the chief financial officer directly owned 72,492 shares of the company's stock, valued at approximately $1,430,992.08. This trade represents a 41.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 109,477 shares of company stock valued at $2,034,533 over the last quarter. Company insiders own 26.10% of the company's stock.

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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