Perella Weinberg Partners $PWP Shares Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC boosted its position in Perella Weinberg Partners (NASDAQ:PWP) by 18.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 690,318 shares of the company’s stock after buying an additional 107,508 shares during the period. Penn Capital Management Company LLC’s holdings in Perella Weinberg Partners were worth $14,733,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PWP. State of Alaska Department of Revenue acquired a new stake in Perella Weinberg Partners during the third quarter worth about $53,000. Tower Research Capital LLC TRC grew its position in shares of 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 purchasing an additional 4,232 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Perella Weinberg Partners by 16.6% in 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. Ameritas Investment Partners Inc. grew its holdings in shares of Perella Weinberg Partners by 20.9% in the second quarter. Ameritas Investment Partners Inc. now owns 6,225 shares of the company’s stock valued at $121,000 after purchasing an additional 1,075 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Perella Weinberg Partners by 11.6% during the 2nd quarter. ProShare Advisors LLC now owns 12,502 shares of the company’s stock worth $243,000 after buying an additional 1,303 shares during the last quarter. 41.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on PWP shares. Keefe, Bruyette & Woods raised their price objective on Perella Weinberg Partners from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Monday, February 9th. The Goldman Sachs Group cut their price objective on Perella Weinberg Partners from $21.50 to $18.50 and set a “sell” rating on the stock in a research report on Thursday, March 12th. Wolfe Research set a $21.00 price target on shares of Perella Weinberg Partners in a research note on Wednesday, January 7th. Wall Street Zen raised Perella Weinberg Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Perella Weinberg Partners in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Perella Weinberg Partners presently has an average rating of “Hold” and a consensus target price of $22.88.

Perella Weinberg Partners Stock Up 2.5%

Shares of PWP stock opened at $17.23 on Wednesday. The stock has a market capitalization of $1.53 billion, a PE ratio of 37.46 and a beta of 1.69. The stock’s 50-day moving average price is $20.27 and its 200 day moving average price is $19.71. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The firm had revenue of $219.16 million during the quarter, compared to the consensus estimate of $192.84 million. Perella Weinberg Partners had a negative return on equity of 25.81% and a net margin of 4.69%.

Perella Weinberg Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Tuesday, February 17th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, February 17th. Perella Weinberg Partners’s dividend payout ratio (DPR) is currently 60.87%.

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.