Penn Capital Management Company LLC Sells 655,854 Shares of Perella Weinberg Partners $PWP

Penn Capital Management Company LLC reduced its stake in Perella Weinberg Partners (NASDAQ:PWP) by 95.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,464 shares of the company’s stock after selling 655,854 shares during the period. Penn Capital Management Company LLC’s holdings in Perella Weinberg Partners were worth $596,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Torren Management LLC bought a new position in Perella Weinberg Partners in the 4th quarter worth about $62,000. Tower Research Capital LLC TRC boosted its stake in shares of Perella Weinberg Partners by 460.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock valued at $100,000 after purchasing an additional 4,232 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Perella Weinberg Partners by 10.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,138 shares of the company’s stock valued at $175,000 after purchasing an additional 997 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in shares of Perella Weinberg Partners during the fourth quarter valued at approximately $187,000. Finally, ProShare Advisors LLC boosted its stake in shares of Perella Weinberg Partners by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock valued at $197,000 after purchasing an additional 733 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PWP shares. 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 research note on Friday, April 10th. The Goldman Sachs Group increased their price objective 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. 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. Weiss Ratings downgraded shares of Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods increased their price objective 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. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Perella Weinberg Partners presently has a consensus rating of “Hold” and an average target price of $23.50.

Insider Buying and Selling

In related news, CFO Alexandra Gottschalk sold 14,018 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $17.46, for a total transaction of $244,754.28. Following the completion of the sale, the chief financial officer owned 72,492 shares of the company’s stock, valued at $1,265,710.32. This represents a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 109,477 shares of company stock worth $2,034,533 over the last three months. Corporate insiders own 26.10% of the company’s stock.

Perella Weinberg Partners Stock Down 3.1%

NASDAQ:PWP opened at $18.38 on Thursday. Perella Weinberg Partners has a 52 week low of $15.74 and a 52 week high of $25.92. The firm has a 50 day moving average of $19.08 and a 200 day moving average of $19.17. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 76.58 and a beta of 1.74.

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

Perella Weinberg Partners Dividend Announcement

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

Perella Weinberg Partners Company 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.