Pier Capital LLC Purchases 80,744 Shares of Perella Weinberg Partners $PWP

Pier Capital LLC grew its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP) by 20.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 474,872 shares of the company’s stock after purchasing an additional 80,744 shares during the quarter. Perella Weinberg Partners accounts for 1.6% of Pier Capital LLC’s investment portfolio, making the stock its 6th biggest position. Pier Capital LLC’s holdings in Perella Weinberg Partners were worth $10,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PWP. Arizona State Retirement System grew its holdings in Perella Weinberg Partners by 3.4% in the 3rd quarter. Arizona State Retirement System now owns 17,814 shares of the company’s stock worth $380,000 after buying an additional 583 shares in the last quarter. New York State Teachers Retirement System raised its stake in Perella Weinberg Partners by 16.6% during the 3rd quarter. New York State Teachers Retirement System now owns 5,510 shares of the company’s stock valued at $117,000 after acquiring an additional 786 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Perella Weinberg Partners by 20.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,225 shares of the company’s stock worth $121,000 after acquiring an additional 1,075 shares during the period. ProShare Advisors LLC grew its stake in shares of Perella Weinberg Partners by 11.6% in the second quarter. ProShare Advisors LLC now owns 12,502 shares of the company’s stock worth $243,000 after purchasing an additional 1,303 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Perella Weinberg Partners by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company’s stock worth $566,000 after purchasing an additional 1,342 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PWP. Keefe, Bruyette & Woods lifted their price objective on shares of Perella Weinberg Partners from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, February 9th. Wall Street Zen upgraded shares of Perella Weinberg Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. The Goldman Sachs Group lowered their target price on shares of Perella Weinberg Partners from $21.50 to $18.50 and set a “sell” rating on the stock in a research note on Thursday. Wolfe Research set a $21.00 price target on shares of Perella Weinberg Partners in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Perella Weinberg Partners in a report on Thursday, January 22nd. One equities 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.com, the stock currently has an average rating of “Hold” and an average target price of $22.88.

Perella Weinberg Partners Trading Down 4.5%

Shares of NASDAQ PWP opened at $16.03 on Friday. Perella Weinberg Partners has a twelve month low of $14.12 and a twelve month high of $25.92. The firm has a 50-day moving average of $20.37 and a two-hundred day moving average of $19.86. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 34.85 and a beta of 1.69.

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

Perella Weinberg Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Tuesday, February 17th were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. Perella Weinberg Partners’s dividend payout ratio is currently 60.87%.

About Perella Weinberg Partners

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.