Riverwater Partners LLC Decreases Stock Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Riverwater Partners LLC cut its holdings in Perella Weinberg Partners (NASDAQ:PWP) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,279 shares of the company’s stock after selling 1,356 shares during the period. Riverwater Partners LLC’s holdings in Perella Weinberg Partners were worth $552,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Perella Weinberg Partners by 6.7% during the first quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock worth $35,212,000 after acquiring an additional 155,855 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Perella Weinberg Partners during the 2nd quarter valued at approximately $35,715,000. Millennium Management LLC boosted its position in Perella Weinberg Partners by 2,883.9% in the 2nd quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock valued at $28,012,000 after buying an additional 1,666,015 shares during the period. Wasatch Advisors LP increased its position in shares of Perella Weinberg Partners by 113.0% during the first quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock worth $20,384,000 after acquiring an additional 765,461 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in shares of Perella Weinberg Partners in the second quarter valued at approximately $20,198,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PWP. Keefe, Bruyette & Woods lifted their target price on Perella Weinberg Partners from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. JMP Securities lifted their price objective on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th.

Perella Weinberg Partners Trading Down 4.4 %

Shares of NASDAQ PWP opened at $20.70 on Thursday. The stock’s fifty day simple moving average is $19.69 and its two-hundred day simple moving average is $17.26. The stock has a market capitalization of $1.95 billion, a PE ratio of -11.43 and a beta of 1.50. Perella Weinberg Partners has a 12-month low of $9.30 and a 12-month high of $22.32.

Perella Weinberg Partners (NASDAQ:PWP) last posted its earnings results on Friday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.26. The firm had revenue of $272.00 million during the quarter, compared to analysts’ expectations of $179.35 million. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The business’s revenue was up 64.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS.

Perella Weinberg Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a $0.07 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.35%. Perella Weinberg Partners’s dividend payout ratio is presently -15.05%.

Perella Weinberg Partners Profile

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.