Basswood Capital Management L.L.C. Has $18.77 Million Stake in Perella Weinberg Partners $PWP

Basswood Capital Management L.L.C. trimmed its position in Perella Weinberg Partners (NASDAQ:PWP) by 16.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,084,985 shares of the company’s stock after selling 207,539 shares during the period. Basswood Capital Management L.L.C.’s holdings in Perella Weinberg Partners were worth $18,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. ProShare Advisors LLC raised its stake in shares of Perella Weinberg Partners by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock valued at $197,000 after purchasing an additional 733 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Perella Weinberg Partners by 10.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,138 shares of the company’s stock valued at $175,000 after purchasing an additional 997 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $566,000 after purchasing an additional 1,342 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Perella Weinberg Partners by 2.9% in the third quarter. Alliancebernstein L.P. now owns 51,556 shares of the company’s stock valued at $1,099,000 after purchasing an additional 1,466 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Perella Weinberg Partners in the fourth quarter valued at $45,000. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Price Performance

Perella Weinberg Partners stock opened at $15.66 on Friday. The stock has a fifty day moving average price of $18.72 and a two-hundred day moving average price of $18.97. Perella Weinberg Partners has a 52-week low of $14.54 and a 52-week high of $25.92. The firm has a market capitalization of $1.46 billion, a P/E ratio of 65.25 and a beta of 1.64.

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

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, June 1st. Perella Weinberg Partners’s dividend payout ratio is currently 116.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PWP. Keefe, Bruyette & Woods upped their target price on Perella Weinberg Partners from $21.00 to $23.50 and gave the company an “outperform” rating in a research note on Monday, May 4th. The Goldman Sachs Group set a $16.00 price objective on Perella Weinberg Partners in a research note on Friday. Weiss Ratings upgraded Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Citizens Jmp dropped their price objective on Perella Weinberg Partners from $32.00 to $30.00 and set a “market outperform” rating for the company in a research note on Friday, April 10th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.63.

Insider Transactions at Perella Weinberg Partners

In other Perella Weinberg Partners news, CFO Alexandra Gottschalk sold 51,671 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $19.74, for a total transaction of $1,019,985.54. Following the completion of the transaction, the chief financial officer directly owned 72,492 shares in the company, valued at $1,430,992.08. This represents a 41.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 109,477 shares of company stock worth $2,034,533 in the last three months. Corporate insiders own 26.10% of the company’s stock.

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.