Trexquant Investment LP Sells 44,149 Shares of Perella Weinberg Partners $PWP

Key Points

• Trexquant Investment LP reduced its stake in Perella Weinberg Partners by 30.8% in the first quarter, now owning 99,201 shares valued at approximately $1.83 million.
• Wellington Management Group LLP significantly increased its position in Perella Weinberg Partners by 128.6%, owning 3,009,484 shares worth about $55.38 million after acquiring additional shares.
• Perella Weinberg Partners reported earnings of $0.09 per share, missing the consensus estimate of $0.16, with revenues of $155.27 million against an expectation of $188.06 million.

Trexquant Investment LP cut its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,201 shares of the company's stock after selling 44,149 shares during the quarter. Trexquant Investment LP owned about 0.11% of Perella Weinberg Partners worth $1,825,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Perella Weinberg Partners by 1.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,403 shares of the company's stock worth $701,000 after buying an additional 518 shares during the period. US Bancorp DE raised its holdings in Perella Weinberg Partners by 5.8% during the 1st quarter. US Bancorp DE now owns 18,623 shares of the company's stock worth $343,000 after buying an additional 1,021 shares during the period. Versant Capital Management Inc acquired a new stake in Perella Weinberg Partners during the 1st quarter worth about $32,000. Rhumbline Advisers raised its holdings in Perella Weinberg Partners by 2.7% during the 1st quarter. Rhumbline Advisers now owns 72,801 shares of the company's stock worth $1,340,000 after buying an additional 1,940 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Perella Weinberg Partners during the 1st quarter worth about $40,000. Institutional investors and hedge funds own 41.07% of the company's stock.

Perella Weinberg Partners Trading Up 0.4%

NASDAQ:PWP traded up $0.08 on Wednesday, hitting $21.85. 1,113,047 shares of the company's stock traded hands, compared to its average volume of 1,077,420. Perella Weinberg Partners has a 1 year low of $14.12 and a 1 year high of $27.03. The firm has a 50-day moving average price of $21.24 and a 200-day moving average price of $19.38. The company has a market cap of $1.91 billion, a PE ratio of 26.65 and a beta of 1.67.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.07). Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 26.14%. The business had revenue of $155.27 million for the quarter, compared to analysts' expectations of $188.06 million.

Perella Weinberg Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. Perella Weinberg Partners's payout ratio is 34.15%.

Analysts Set New Price Targets

Several analysts have issued reports on PWP shares. The Goldman Sachs Group boosted their price objective on Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a report on Thursday, May 15th. Wall Street Zen downgraded Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Keefe, Bruyette & Woods boosted their price objective on Perella Weinberg Partners from $23.00 to $24.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $23.67.

Insiders Place Their Bets

In other Perella Weinberg Partners news, President Dietrich Becker sold 177,553 shares of Perella Weinberg Partners stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $22.20, for a total transaction of $3,941,676.60. Following the transaction, the president owned 368,469 shares of the company's stock, valued at $8,180,011.80. The trade was a 32.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 31.82% of the stock is currently owned by company insiders.

Perella Weinberg Partners 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.