Perella Weinberg Partners $PWP Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP trimmed its stake in Perella Weinberg Partners (NASDAQ:PWP) by 67.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 366,781 shares of the company’s stock after selling 753,623 shares during the period. Wasatch Advisors LP’s holdings in Perella Weinberg Partners were worth $5,854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. William Blair Investment Management LLC lifted its position in Perella Weinberg Partners by 10.6% in the fourth quarter. William Blair Investment Management LLC now owns 3,946,163 shares of the company’s stock valued at $68,269,000 after acquiring an additional 379,652 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Perella Weinberg Partners by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 3,722,756 shares of the company’s stock worth $64,404,000 after purchasing an additional 241,363 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of 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 during the last quarter. Nuveen LLC increased its position in shares of Perella Weinberg Partners by 29.2% during the fourth quarter. Nuveen LLC now owns 2,861,405 shares of the company’s stock worth $49,502,000 after purchasing an additional 646,143 shares in the last quarter. Finally, State Street Corp increased its position in shares of Perella Weinberg Partners by 2.2% during the fourth quarter. State Street Corp now owns 1,798,302 shares of the company’s stock worth $31,111,000 after purchasing an additional 39,544 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Perella Weinberg Partners

In related news, CFO Alexandra Gottschalk sold 43,788 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $17.58, for a total value of $769,793.04. Following the transaction, the chief financial officer owned 86,510 shares in the company, valued at $1,520,845.80. The trade was a 33.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Bednar sold 80,045 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $17.17, for a total value of $1,374,372.65. Following the sale, the chief executive officer directly owned 1,139,013 shares of the company’s stock, valued at approximately $19,556,853.21. This represents a 6.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 293,503 shares of company stock worth $5,094,926. Corporate insiders own 26.10% of the company’s stock.

Perella Weinberg Partners Price Performance

Shares of NASDAQ:PWP opened at $17.25 on Thursday. The stock has a market cap of $1.62 billion, a P/E ratio of 66.35 and a beta of 1.64. The firm has a fifty day moving average price of $16.04 and a 200 day moving average price of $18.23. Perella Weinberg Partners has a 1-year low of $14.11 and a 1-year high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.14. Perella Weinberg Partners had a net margin of 3.19% and a negative return on equity of 35.84%. The company had revenue of $156.53 million for the quarter, compared to analyst estimates of $144.76 million.

Perella Weinberg Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 28th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. Perella Weinberg Partners’s dividend payout ratio (DPR) is currently 107.69%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PWP shares. Weiss Ratings raised Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $21.00 price target (up from $19.00) on shares of Perella Weinberg Partners in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group lifted their price target on Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.00.

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.