Walleye Capital LLC Trims Stake in Perella Weinberg Partners $PWP

Walleye Capital LLC lessened its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,346,310 shares of the company’s stock after selling 119,563 shares during the quarter. Walleye Capital LLC’s holdings in Perella Weinberg Partners were worth $24,449,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new position in shares of Perella Weinberg Partners in the fourth quarter worth $45,000. Torren Management LLC acquired a new stake in shares of Perella Weinberg Partners during the fourth quarter valued at $62,000. Kemnay Advisory Services Inc. purchased a new stake in Perella Weinberg Partners during the 4th quarter worth about $86,000. Tower Research Capital LLC TRC increased its position in 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 worth $100,000 after purchasing an additional 4,232 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Perella Weinberg Partners by 24.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock valued at $124,000 after purchasing an additional 1,338 shares during the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Trading Down 3.4%

Perella Weinberg Partners stock opened at $15.13 on Thursday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 63.04 and a beta of 1.65. The stock has a fifty day moving average price of $16.38 and a 200 day moving average price of $18.60. Perella Weinberg Partners has a 52 week low of $14.54 and a 52 week high of $25.92.

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

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, June 1st. Perella Weinberg Partners’s dividend payout ratio is presently 116.67%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PWP. Keefe, Bruyette & Woods reduced their target price on shares of Perella Weinberg Partners from $23.50 to $19.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. The Goldman Sachs Group set a $16.00 price target on shares of Perella Weinberg Partners in a report on Friday, June 12th. Citizens Jmp cut their price objective on shares of Perella Weinberg Partners from $32.00 to $30.00 and set a “market outperform” rating for the company in a research report on Friday, April 10th. Finally, Weiss Ratings downgraded shares of Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.50.

Insider Activity

In related news, CFO Alexandra Gottschalk sold 14,018 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $17.46, for a total value of $244,754.28. Following the sale, the chief financial officer directly owned 72,492 shares of the company’s stock, valued at approximately $1,265,710.32. This trade represents a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 109,477 shares of company stock valued at $2,034,533 over the last 90 days. 26.10% of the stock is currently owned by company insiders.

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.