Walleye Capital LLC Boosts Stock Holdings in Perella Weinberg Partners $PWP

Key Points

• Walleye Capital LLC increased its stake in Perella Weinberg Partners (NASDAQ:PWP) by 73.8% during the first quarter, owning approximately $13.82 million worth of shares after acquiring an additional 318,971 shares.
• Analysts have varied opinions on PWP; Goldman Sachs raised its price target to $18 while downgrading the stock to a "sell" rating, and Keefe, Bruyette & Woods raised their target to $24 with a "market perform" rating.
• Perella Weinberg Partners reported a net margin of 6.57% and missed earnings expectations for the quarter, posting $0.09 EPS against analyst estimates of $0.16.

Walleye Capital LLC boosted its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 73.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 751,296 shares of the company's stock after buying an additional 318,971 shares during the period. Walleye Capital LLC owned approximately 0.87% of Perella Weinberg Partners worth $13,824,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in Perella Weinberg Partners in the 1st quarter valued at about $32,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Perella Weinberg Partners during the 1st quarter worth approximately $40,000. GAMMA Investing LLC increased its holdings in Perella Weinberg Partners by 2,401.3% during the 1st quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock worth $70,000 after purchasing an additional 3,674 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Perella Weinberg Partners during the 1st quarter worth approximately $118,000. Finally, State of Wyoming increased its holdings in Perella Weinberg Partners by 180.4% during the 4th quarter. State of Wyoming now owns 8,855 shares of the company's stock worth $211,000 after purchasing an additional 5,697 shares in the last quarter. 41.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, President Dietrich Becker sold 177,553 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $22.20, for a total value of $3,941,676.60. Following the transaction, the president owned 368,469 shares in the company, valued at approximately $8,180,011.80. This represents a 32.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 31.82% of the company's stock.

Perella Weinberg Partners Trading Down 1.2%

Shares of PWP stock traded down $0.27 during trading on Friday, hitting $22.13. The company's stock had a trading volume of 965,810 shares, compared to its average volume of 1,265,325. The company has a market cap of $1.94 billion, a PE ratio of 26.99 and a beta of 1.66. The business has a fifty day moving average of $20.88 and a 200-day moving average of $19.46. Perella Weinberg Partners has a 52 week low of $14.12 and a 52 week high of $27.03.

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 (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.07). The business had revenue of $155.27 million during the quarter, compared to the consensus estimate of $188.06 million. Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 26.14%.

Perella Weinberg Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen lowered Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. 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. Finally, 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. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $23.67.

About Perella Weinberg Partners

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.