Perella Weinberg Partners $PWP Stock Position Decreased by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its Perella Weinberg Partners stake by 19.8% in the fourth quarter, selling 230,409 shares and leaving it with 932,891 shares worth about $16.1 million.
• Insider selling has also been notable: CFO Alexandra Gottschalk sold 14,018 shares at $17.46 each, and insiders have sold 109,477 shares over the past 90 days.
• Analyst sentiment is mixed, with a consensus Hold rating and an average price target of $23.50, while the company recently reported weak quarterly results that missed earnings and revenue expectations.

Royce & Associates LP cut its position in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 19.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 932,891 shares of the company's stock after selling 230,409 shares during the period. Royce & Associates LP owned 1.05% of Perella Weinberg Partners worth $16,139,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PWP. AQR Capital Management LLC raised its stake in shares of Perella Weinberg Partners by 79.1% in the 1st quarter. AQR Capital Management LLC now owns 23,435 shares of the company's stock valued at $431,000 after acquiring an additional 10,350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Perella Weinberg Partners by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company's stock worth $566,000 after buying an additional 1,342 shares during the period. Jane Street Group LLC bought a new position in Perella Weinberg Partners in the 1st quarter worth approximately $2,577,000. Legal & General Group Plc increased its position in shares of Perella Weinberg Partners by 24.3% during the second quarter. Legal & General Group Plc now owns 59,874 shares of the company's stock valued at $1,163,000 after purchasing an additional 11,693 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Perella Weinberg Partners by 12.1% during the second quarter. Rhumbline Advisers now owns 81,588 shares of the company's stock valued at $1,584,000 after purchasing an additional 8,787 shares during the period. 41.07% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Alexandra Gottschalk sold 14,018 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $17.46, for a total value of $244,754.28. Following the completion of the sale, the chief financial officer directly owned 72,492 shares of the company's stock, valued at $1,265,710.32. This trade represents a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold 109,477 shares of company stock valued at $2,034,533 over the last ninety days. Company insiders own 26.10% of the company's stock.

Analyst Ratings Changes

PWP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Perella Weinberg Partners from $21.00 to $23.50 and gave the company an "outperform" rating in a research note on Monday, May 4th. Citizens Jmp cut their price target on Perella Weinberg Partners from $32.00 to $30.00 and set a "market outperform" rating on the stock in a research note on Friday, April 10th. Weiss Ratings downgraded Perella Weinberg Partners from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. The Goldman Sachs Group increased their price target on Perella Weinberg Partners from $17.50 to $19.50 and gave the stock a "sell" rating in a report on Tuesday, April 14th. Finally, Wall Street Zen raised Perella Weinberg Partners from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Two research 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, Perella Weinberg Partners has a consensus rating of "Hold" and an average price target of $23.50.

Perella Weinberg Partners Stock Up 1.6%

PWP stock opened at $18.97 on Wednesday. The business has a 50 day moving average price of $19.05 and a two-hundred day moving average price of $19.18. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 79.04 and a beta of 1.74. Perella Weinberg Partners has a twelve month low of $15.74 and a twelve month high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.05 earnings per share 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 during the quarter, compared to the consensus estimate of $158.82 million.

Perella Weinberg Partners Dividend Announcement

The firm 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 $0.07 dividend. This represents a $0.28 dividend on an annualized basis 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 presently 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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