Perella Weinberg Partners (NASDAQ:PWP) Shares Sold by Riverwater Partners LLC

Riverwater Partners LLC lowered its holdings in Perella Weinberg Partners (NASDAQ:PWP) by 4.6% in the third quarter, HoldingsChannel reports. The firm owned 28,279 shares of the company’s stock after selling 1,356 shares during the quarter. Riverwater Partners LLC’s holdings in Perella Weinberg Partners were worth $552,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Perella Weinberg Partners by 122.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock worth $159,000 after purchasing an additional 5,379 shares during the period. Quadrature Capital Ltd purchased a new stake in Perella Weinberg Partners during the 4th quarter worth about $165,000. Price T Rowe Associates Inc. MD raised its position in shares of Perella Weinberg Partners by 16.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock worth $174,000 after acquiring an additional 1,753 shares in the last quarter. Arizona State Retirement System increased its stake in Perella Weinberg Partners by 15.3% in the second quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Perella Weinberg Partners by 27.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock valued at $215,000 after buying an additional 3,237 shares during the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on PWP shares. JMP Securities upped their price target on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their price target on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, July 12th.

Perella Weinberg Partners Price Performance

NASDAQ:PWP opened at $20.70 on Thursday. The firm has a market capitalization of $1.95 billion, a PE ratio of -11.43 and a beta of 1.50. Perella Weinberg Partners has a 12 month low of $9.30 and a 12 month high of $22.32. The business’s 50-day moving average is $19.69 and its two-hundred day moving average is $17.26.

Perella Weinberg Partners (NASDAQ:PWP) last posted its earnings results on Friday, August 2nd. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.17 by $0.26. Perella Weinberg Partners had a positive return on equity of 56.85% and a negative net margin of 15.75%. The company had revenue of $272.00 million during the quarter, compared to analyst estimates of $179.35 million. During the same period in the prior year, the company earned $0.16 earnings per share. The business’s revenue was up 64.3% compared to the same quarter last year.

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.35%. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -15.05%.

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.