Perella Weinberg Partners' (PWP) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• Perella Weinberg Partners' stock has been reaffirmed with a "hold (c)" rating by Weiss Ratings, following a recent downgrade from a "buy" rating by Wall Street Zen.
• The company reported a quarterly earnings miss with EPS of $0.09, significantly lower than the consensus estimate of $0.16, alongside revenue of $155.27 million, which also fell short of expectations.
• Several hedge funds increased their stakes in Perella Weinberg Partners, with Wellington Management Group growing its position by 128.6% in the first quarter, now owning over 3 million shares.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report)'s stock had its "hold (c)" rating reissued by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also issued reports on the company. Wall Street Zen lowered Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Keefe, Bruyette & Woods upped their price target on Perella Weinberg Partners from $23.00 to $24.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $23.67.

Perella Weinberg Partners Trading Down 2.4%

NASDAQ:PWP opened at $19.75 on Wednesday. Perella Weinberg Partners has a 12 month low of $14.12 and a 12 month high of $27.03. The stock has a 50 day moving average of $21.78 and a two-hundred day moving average of $19.52. The firm has a market cap of $1.73 billion, a P/E ratio of 24.09 and a beta of 1.65.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $155.27 million during the quarter, compared to analysts' expectations of $188.06 million. Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 26.14%.

Insiders Place Their Bets

In related news, President Dietrich Becker sold 177,553 shares of the 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 completion of the transaction, the president directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 31.82% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PWP. Wellington Management Group LLP grew its position in Perella Weinberg Partners by 128.6% in the first quarter. Wellington Management Group LLP now owns 3,009,484 shares of the company's stock worth $55,375,000 after acquiring an additional 1,692,922 shares during the period. Channing Capital Management LLC grew its position in Perella Weinberg Partners by 215.2% in the first quarter. Channing Capital Management LLC now owns 2,142,888 shares of the company's stock worth $39,429,000 after acquiring an additional 1,463,083 shares during the period. Westwood Holdings Group Inc. purchased a new position in Perella Weinberg Partners in the second quarter worth approximately $28,019,000. Adage Capital Partners GP L.L.C. lifted its stake in Perella Weinberg Partners by 73.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company's stock worth $60,911,000 after purchasing an additional 1,328,312 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Perella Weinberg Partners by 70.0% during the second quarter. William Blair Investment Management LLC now owns 2,268,265 shares of the company's stock worth $44,050,000 after purchasing an additional 934,382 shares in the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

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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