Channing Capital Management LLC Takes $16.21 Million Position in Perella Weinberg Partners (NASDAQ:PWP)

Channing Capital Management LLC acquired a new stake in Perella Weinberg Partners (NASDAQ:PWP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 679,805 shares of the company’s stock, valued at approximately $16,207,000. Channing Capital Management LLC owned 0.77% of Perella Weinberg Partners at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC bought a new position in Perella Weinberg Partners in the 4th quarter valued at $64,000. Intech Investment Management LLC purchased a new stake in shares of Perella Weinberg Partners in the third quarter worth $197,000. PDT Partners LLC bought a new stake in Perella Weinberg Partners during the third quarter valued at $210,000. Y Intercept Hong Kong Ltd purchased a new position in Perella Weinberg Partners during the third quarter worth about $214,000. Finally, Aigen Investment Management LP bought a new position in Perella Weinberg Partners in the 4th quarter worth about $311,000. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their price target on Perella Weinberg Partners from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, February 10th.

Perella Weinberg Partners Price Performance

Shares of NASDAQ:PWP opened at $18.43 on Tuesday. The company’s fifty day moving average price is $23.80 and its 200-day moving average price is $22.65. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -11.66 and a beta of 1.61. Perella Weinberg Partners has a one year low of $11.68 and a one year high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last released its earnings results on Friday, February 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%.

Perella Weinberg Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Tuesday, February 18th. Perella Weinberg Partners’s payout ratio is currently -17.72%.

About Perella Weinberg Partners

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.