Perella Weinberg Partners (NASDAQ:PWP) Shares Purchased by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in Perella Weinberg Partners by 3.7%, owning approximately 1,099,154 shares worth $20.22 million as of the end of the first quarter.
• Goldman Sachs has raised their price target for Perella Weinberg Partners from $16.00 to $18.00 but maintains a "sell" rating, while Keefe, Bruyette & Woods has increased their target to $23.00 from $22.00.
• Perella Weinberg Partners' recent quarterly earnings surpassed estimates, reporting $0.28 earnings per share on revenue of $211.83 million, highlighting improved financial performance compared to the prior year's losses.

Royce & Associates LP boosted its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 3.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,099,154 shares of the company's stock after buying an additional 39,096 shares during the period. Royce & Associates LP owned 1.27% of Perella Weinberg Partners worth $20,224,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Swiss National Bank grew its stake in Perella Weinberg Partners by 0.9% during the fourth quarter. Swiss National Bank now owns 100,000 shares of the company's stock valued at $2,384,000 after acquiring an additional 900 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Perella Weinberg Partners during the fourth quarter valued at about $248,000. LPL Financial LLC grew its position in shares of Perella Weinberg Partners by 22.7% during the fourth quarter. LPL Financial LLC now owns 54,917 shares of the company's stock valued at $1,309,000 after purchasing an additional 10,173 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Perella Weinberg Partners by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company's stock valued at $75,426,000 after purchasing an additional 260,319 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Perella Weinberg Partners by 13.7% during the fourth quarter. Wellington Management Group LLP now owns 1,316,562 shares of the company's stock valued at $31,387,000 after purchasing an additional 158,957 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company's stock.

Perella Weinberg Partners Trading Down 0.2%

Shares of NASDAQ:PWP traded down $0.05 during trading on Monday, reaching $20.51. The company's stock had a trading volume of 158,791 shares, compared to its average volume of 915,065. Perella Weinberg Partners has a 12 month low of $14.12 and a 12 month high of $27.03. The firm's 50 day simple moving average is $18.99 and its two-hundred day simple moving average is $19.98. The stock has a market capitalization of $1.81 billion, a PE ratio of -47.70 and a beta of 1.66.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.07. Perella Weinberg Partners had a negative net margin of 1.17% and a negative return on equity of 36.47%. The firm had revenue of $211.83 million during the quarter, compared to the consensus estimate of $200.29 million. During the same quarter last year, the firm earned ($0.10) EPS.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.37%. The ex-dividend date was Wednesday, May 14th. Perella Weinberg Partners's payout ratio is currently -65.12%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PWP. JMP Securities cut their price objective on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. Wall Street Zen lowered Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. The Goldman Sachs Group raised their price objective on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research report on Thursday, May 15th. Finally, Keefe, Bruyette & Woods lowered Perella Weinberg Partners from a "moderate buy" rating to a "hold" rating and raised their price objective for the company from $22.00 to $23.00 in a research report on Monday, July 14th.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.