Geode Capital Management LLC Acquires 146,352 Shares of Perella Weinberg Partners $PWP

Geode Capital Management LLC boosted its holdings in Perella Weinberg Partners (NASDAQ:PWP) by 10.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,490,650 shares of the company’s stock after acquiring an additional 146,352 shares during the period. Geode Capital Management LLC’s holdings in Perella Weinberg Partners were worth $28,952,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Perella Weinberg Partners by 128.6% during the first quarter. Wellington Management Group LLP now owns 3,009,484 shares of the company’s stock worth $55,375,000 after purchasing an additional 1,692,922 shares during the period. Channing Capital Management LLC boosted its stake in shares of Perella Weinberg Partners by 215.2% in the first quarter. Channing Capital Management LLC now owns 2,142,888 shares of the company’s stock valued at $39,429,000 after buying an additional 1,463,083 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Perella Weinberg Partners by 124.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,808,172 shares of the company’s stock worth $33,270,000 after buying an additional 1,002,387 shares in the last quarter. William Blair Investment Management LLC increased its stake in Perella Weinberg Partners by 70.0% during the 2nd quarter. William Blair Investment Management LLC now owns 2,268,265 shares of the company’s stock worth $44,050,000 after acquiring an additional 934,382 shares during the period. Finally, Penn Capital Management Company LLC bought a new position in Perella Weinberg Partners during the 1st quarter worth $9,721,000. Institutional investors own 41.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PWP shares. Wall Street Zen downgraded Perella Weinberg Partners from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Keefe, Bruyette & Woods dropped their price target on Perella Weinberg Partners from $21.00 to $19.00 and set a “market perform” rating for the company in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Perella Weinberg Partners in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.00.

Perella Weinberg Partners Stock Performance

Shares of PWP stock opened at $18.27 on Friday. Perella Weinberg Partners has a fifty-two week low of $14.12 and a fifty-two week high of $27.03. The stock’s fifty day moving average price is $19.42 and its two-hundred day moving average price is $19.95. The company has a market cap of $1.62 billion, a PE ratio of 27.68 and a beta of 1.63.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $164.65 million for the quarter, compared to analyst estimates of $179.83 million. Perella Weinberg Partners had a negative return on equity of 21.55% and a net margin of 6.15%.

Perella Weinberg Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 17th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Perella Weinberg Partners’s dividend payout ratio is 42.42%.

Perella Weinberg Partners Company 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.