Wesbanco Bank Inc. Buys New Shares in Perella Weinberg Partners $PWP

Key Points

• Wesbanco Bank reported a new fourth-quarter stake in Perella Weinberg Partners, buying 57,000 shares valued at about $986,000. The position represented roughly 0.06% of the company.
• Perella Weinberg Partners posted mixed quarterly results, with earnings of $0.05 per share versus the $0.16 consensus estimate and revenue of $148.92 million, below expectations. The stock opened at $18.38 and has traded between $15.74 and $25.92 over the past year.
• The company declared a quarterly dividend of $0.07 per share, payable June 15, which equates to an annualized yield of about 1.5%. At the same time, CFO Alexandra Gottschalk sold 51,671 shares in early May, reducing her position by about 41.6%.

Wesbanco Bank Inc. bought a new stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 57,000 shares of the company's stock, valued at approximately $986,000. Wesbanco Bank Inc. owned 0.06% of Perella Weinberg Partners as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in Perella Weinberg Partners in the third quarter valued at $53,000. Torren Management LLC acquired a new position in Perella Weinberg Partners in the fourth quarter valued at $62,000. Tower Research Capital LLC TRC lifted its holdings in Perella Weinberg Partners by 460.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company's stock valued at $100,000 after buying an additional 4,232 shares during the period. New York State Teachers Retirement System lifted its holdings in Perella Weinberg Partners by 16.6% in the third quarter. New York State Teachers Retirement System now owns 5,510 shares of the company's stock valued at $117,000 after buying an additional 786 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Perella Weinberg Partners by 10.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,138 shares of the company's stock valued at $175,000 after buying an additional 997 shares during the period. Institutional investors and hedge funds own 41.07% of the company's stock.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ PWP opened at $18.38 on Monday. The firm's 50-day moving average price is $18.94 and its 200-day moving average price is $19.28. Perella Weinberg Partners has a 1-year low of $15.74 and a 1-year high of $25.92. The firm has a market capitalization of $1.71 billion, a P/E ratio of 76.58 and a beta of 1.74.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.11). Perella Weinberg Partners had a negative return on equity of 19.90% and a net margin of 2.82%.The business had revenue of $148.92 million for the quarter, compared to the consensus estimate of $158.82 million.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, June 1st. Perella Weinberg Partners's payout ratio is currently 116.67%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PWP. Keefe, Bruyette & Woods upped their price objective on shares of Perella Weinberg Partners from $21.00 to $23.50 and gave the company an "outperform" rating in a report on Monday, May 4th. Weiss Ratings lowered shares of Perella Weinberg Partners from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday. Citizens Jmp dropped their price objective on shares of Perella Weinberg Partners from $32.00 to $30.00 and set a "market outperform" rating on the stock in a report on Friday, April 10th. The Goldman Sachs Group upped their price objective on shares of Perella Weinberg Partners from $17.50 to $19.50 and gave the company a "sell" rating in a report on Tuesday, April 14th. Finally, Wall Street Zen upgraded shares of Perella Weinberg Partners from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Perella Weinberg Partners currently has a consensus rating of "Hold" and an average target price of $23.50.

Insider Buying and Selling

In other Perella Weinberg Partners news, CFO Alexandra Gottschalk sold 51,671 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $19.74, for a total transaction of $1,019,985.54. Following the completion of the sale, the chief financial officer directly owned 72,492 shares of the company's stock, valued at approximately $1,430,992.08. The trade was a 41.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 26.10% of the company's stock.

Perella Weinberg Partners Profile

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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