Wesbanco Bank Inc. Buys Shares of 57,000 Perella Weinberg Partners $PWP

Wesbanco Bank Inc. bought a new stake in Perella Weinberg Partners (NASDAQ:PWP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 57,000 shares of the company’s stock, valued at approximately $986,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in shares of Perella Weinberg Partners during the 3rd quarter valued at approximately $53,000. Torren Management LLC purchased a new stake in shares of Perella Weinberg Partners during the 4th quarter valued at approximately $62,000. Tower Research Capital LLC TRC lifted its stake in shares of Perella Weinberg Partners by 460.5% during the 2nd 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 in the last quarter. New York State Teachers Retirement System lifted its stake in shares of Perella Weinberg Partners by 16.6% during the 3rd 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 in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Perella Weinberg Partners by 10.9% during the 4th 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 in the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Perella Weinberg Partners

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

Perella Weinberg Partners Price Performance

NASDAQ PWP opened at $18.38 on Monday. Perella Weinberg Partners has a 1 year low of $15.74 and a 1 year high of $25.92. The stock has a market capitalization of $1.71 billion, a PE ratio of 76.58 and a beta of 1.74. The company’s 50 day simple moving average is $18.94 and its two-hundred day simple moving average is $19.28.

Perella Weinberg Partners (NASDAQ:PWP) last posted its earnings results on Friday, May 1st. The company reported $0.05 earnings per share (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 firm had revenue of $148.92 million during the quarter, compared to analysts’ expectations of $158.82 million.

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.07 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.28 annualized dividend and a yield of 1.5%. Perella Weinberg Partners’s dividend payout ratio is currently 116.67%.

Wall Street Analyst Weigh In

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

About Perella Weinberg Partners

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.