Perella Weinberg Partners $PWP Shares Sold by Walleye Capital LLC

Key Points

• Walleye Capital LLC cut its Perella Weinberg Partners stake by 8.2% in the first quarter, selling 119,563 shares and leaving it with 1.35 million shares valued at about $24.4 million.
• Perella Weinberg Partners reported mixed quarterly results, with earnings of $0.05 per share and revenue of $148.92 million, both below analyst estimates.
• Insider selling and cautious analyst sentiment have also been notable: CFO Alexandra Gottschalk sold more than 51,000 shares, while the stock currently carries an average analyst rating of “Hold” with a $21.50 price target.

Walleye Capital LLC lessened its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,346,310 shares of the company's stock after selling 119,563 shares during the quarter. Walleye Capital LLC owned 1.45% of Perella Weinberg Partners worth $24,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new position in shares of Perella Weinberg Partners during the 4th quarter worth approximately $45,000. Torren Management LLC purchased a new stake in shares of Perella Weinberg Partners in the fourth quarter valued at approximately $62,000. Kemnay Advisory Services Inc. acquired a new position in Perella Weinberg Partners during the fourth quarter worth $86,000. Tower Research Capital LLC TRC grew its holdings 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 worth $100,000 after acquiring an additional 4,232 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Perella Weinberg Partners by 24.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company's stock worth $124,000 after acquiring an additional 1,338 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company's stock.

Insider Activity

In related news, CFO Alexandra Gottschalk sold 51,671 shares of the business'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 sale, the chief financial officer directly owned 72,492 shares in the company, valued at $1,430,992.08. The trade was a 41.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 109,477 shares of company stock worth $2,034,533. Insiders own 26.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on PWP. Citizens Jmp reduced their target price on Perella Weinberg Partners from $32.00 to $30.00 and set a "market outperform" rating for the company in a report on Friday, April 10th. The Goldman Sachs Group set a $16.00 price target on shares of Perella Weinberg Partners in a research note on Friday, June 12th. Keefe, Bruyette & Woods cut their price target on shares of Perella Weinberg Partners from $23.50 to $19.00 and set an "outperform" rating for the company in a report on Friday, July 10th. Finally, Weiss Ratings cut shares of Perella Weinberg Partners from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 16th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $21.50.

Perella Weinberg Partners Price Performance

PWP opened at $15.13 on Thursday. The stock has a market cap of $1.41 billion, a P/E ratio of 63.04 and a beta of 1.65. The stock's 50 day simple moving average is $16.38 and its 200 day simple moving average is $18.60. Perella Weinberg Partners has a 1-year low of $14.54 and a 1-year high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued 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 firm had revenue of $148.92 million for the quarter, compared to analyst estimates of $158.82 million. Perella Weinberg Partners had a negative return on equity of 19.90% and a net margin of 2.82%.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, June 1st. Perella Weinberg Partners's payout ratio is 116.67%.

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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