Y Intercept Hong Kong Ltd Buys New Position in Perella Weinberg Partners $PWP

Y Intercept Hong Kong Ltd purchased a new position in shares of Perella Weinberg Partners (NASDAQ:PWP) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 88,539 shares of the company’s stock, valued at approximately $1,719,000. Y Intercept Hong Kong Ltd owned about 0.10% of Perella Weinberg Partners as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Perella Weinberg Partners by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 196,289 shares of the company’s stock worth $3,612,000 after purchasing an additional 5,736 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Perella Weinberg Partners by 18.1% in the first quarter. Envestnet Asset Management Inc. now owns 29,466 shares of the company’s stock valued at $542,000 after purchasing an additional 4,508 shares in the last quarter. Banque Pictet & Cie SA acquired a new stake in Perella Weinberg Partners in the 1st quarter valued at $605,000. Emerald Mutual Fund Advisers Trust bought a new stake in Perella Weinberg Partners during the 1st quarter worth about $3,798,000. Finally, New York State Common Retirement Fund lifted its position in Perella Weinberg Partners by 402.6% during the 1st quarter. New York State Common Retirement Fund now owns 849,590 shares of the company’s stock worth $15,632,000 after buying an additional 680,563 shares in the last quarter. 41.07% of the stock is owned by institutional investors.

Insider Activity at Perella Weinberg Partners

In other news, President Dietrich Becker sold 177,553 shares of Perella Weinberg Partners stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $22.20, for a total transaction of $3,941,676.60. Following the completion of the transaction, the president directly owned 368,469 shares in the company, valued at approximately $8,180,011.80. The trade was a 32.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 31.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PWP shares. Keefe, Bruyette & Woods decreased their price objective on Perella Weinberg Partners from $24.00 to $21.00 and set a “hold” rating for the company in a report on Monday, October 13th. Wall Street Zen downgraded Perella Weinberg Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.67.

Perella Weinberg Partners Stock Performance

Shares of PWP stock opened at $18.68 on Friday. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $27.03. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 22.78 and a beta of 1.65. The firm’s 50-day moving average is $20.98 and its 200-day moving average is $19.78.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The business had revenue of $155.27 million for the quarter, compared to analyst estimates of $188.06 million. Perella Weinberg Partners had a negative return on equity of 26.14% and a net margin of 6.57%.

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.