Walleye Capital LLC Has $13.82 Million Stock Position 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 lifted its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 73.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 751,296 shares of the company's stock after buying an additional 318,971 shares during the quarter. Walleye Capital LLC owned about 0.87% of Perella Weinberg Partners worth $13,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PWP. Versant Capital Management Inc acquired a new position in Perella Weinberg Partners during the 1st quarter worth $32,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Perella Weinberg Partners during the 1st quarter worth $40,000. GAMMA Investing LLC lifted its position 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 acquiring an additional 3,674 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Perella Weinberg Partners during the 1st quarter worth $118,000. Finally, State of Wyoming lifted its position 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 acquiring an additional 5,697 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PWP shares. Wall Street Zen lowered shares of 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 target on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a research report on Thursday, May 15th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Perella Weinberg Partners from $23.00 to $24.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Perella Weinberg Partners presently has a consensus rating of "Hold" and an average target price of $23.67.

Perella Weinberg Partners Stock Performance

Shares of PWP stock opened at $22.40 on Monday. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $27.03. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 27.32 and a beta of 1.66. The firm has a fifty day moving average of $20.44 and a 200-day moving average of $19.48.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $188.06 million.

Perella Weinberg Partners Dividend Announcement

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

Insider Activity

In related news, President Dietrich Becker sold 177,553 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $22.20, for a total transaction of $3,941,676.60. Following the completion of the sale, the president owned 368,469 shares in the company, valued at $8,180,011.80. This trade represents a 32.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 31.82% of the stock is owned by company insiders.

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.

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