Public Employees Retirement System of Ohio Purchases New Shares in Perella Weinberg Partners $PWP

Key Points

• Public Employees Retirement System of Ohio acquired 76,264 shares of Perella Weinberg Partners in the second quarter, valued at approximately $1.22 million. Institutional investors collectively own 41.07% of the company.
• Perella Weinberg Partners exceeded quarterly earnings expectations, reporting $0.20 in EPS versus the $0.06 consensus estimate and revenue of $156.53 million versus $144.76 million expected.
• The company declared a quarterly dividend of $0.07 per share, representing a 1.7% annualized yield. Analyst sentiment remains mixed, with an average “Hold” rating and a consensus price target of $22.00.

Public Employees Retirement System of Ohio acquired a new position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 76,264 shares of the company's stock, valued at approximately $1,217,000. Public Employees Retirement System of Ohio owned approximately 0.08% of Perella Weinberg Partners at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Perella Weinberg Partners in the 4th quarter worth about $45,000. Kemnay Advisory Services Inc. purchased a new stake in Perella Weinberg Partners in the fourth quarter worth about $86,000. Tower Research Capital LLC TRC increased its stake in shares of 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 purchasing an additional 4,232 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Perella Weinberg Partners by 24.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company's stock worth $124,000 after purchasing an additional 1,338 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new stake in shares of Perella Weinberg Partners in the 4th quarter worth approximately $181,000. Hedge funds and other institutional investors own 41.07% of the company's stock.

Insiders Place Their Bets

In other Perella Weinberg Partners news, CEO Andrew Bednar sold 80,045 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $17.17, for a total value of $1,374,372.65. Following the completion of the transaction, the chief executive officer directly owned 1,139,013 shares in the company, valued at $19,556,853.21. This represents a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 235,697 shares of company stock worth $4,080,379 over the last quarter. 26.10% of the stock is owned by insiders.

Perella Weinberg Partners Price Performance

Shares of Perella Weinberg Partners stock opened at $16.58 on Wednesday. Perella Weinberg Partners has a 1-year low of $14.11 and a 1-year high of $25.92. The company's fifty day simple moving average is $16.38 and its 200-day simple moving average is $17.49. The stock has a market capitalization of $1.56 billion, a PE ratio of 63.77 and a beta of 1.62.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.14. Perella Weinberg Partners had a negative return on equity of 35.84% and a net margin of 3.19%.The company had revenue of $156.53 million for the quarter, compared to analysts' expectations of $144.76 million.

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, August 28th. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. Perella Weinberg Partners's dividend payout ratio (DPR) is presently 107.69%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PWP shares. The Goldman Sachs Group raised their price objective on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the company a "sell" rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of Perella Weinberg Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $21.00 target price (up from $19.00) on shares of Perella Weinberg Partners in a research note on Monday, August 3rd. Finally, Weiss Ratings cut Perella Weinberg Partners from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $22.00.

About Perella Weinberg Partners

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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