Penn Capital Management Company LLC Buys 107,508 Shares of Perella Weinberg Partners $PWP

Penn Capital Management Company LLC lifted its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 18.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 690,318 shares of the company’s stock after buying an additional 107,508 shares during the quarter. Penn Capital Management Company LLC owned about 0.78% of Perella Weinberg Partners worth $14,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PWP. Arizona State Retirement System lifted its holdings in shares of Perella Weinberg Partners by 3.4% during the third quarter. Arizona State Retirement System now owns 17,814 shares of the company’s stock valued at $380,000 after purchasing an additional 583 shares during the last quarter. New York State Teachers Retirement System grew its position in Perella Weinberg Partners by 16.6% in the 3rd quarter. New York State Teachers Retirement System now owns 5,510 shares of the company’s stock worth $117,000 after purchasing an additional 786 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Perella Weinberg Partners by 20.9% in the second quarter. Ameritas Investment Partners Inc. now owns 6,225 shares of the company’s stock valued at $121,000 after acquiring an additional 1,075 shares during the period. ProShare Advisors LLC increased its position in shares of Perella Weinberg Partners by 11.6% during the 2nd quarter. ProShare Advisors LLC now owns 12,502 shares of the company’s stock valued at $243,000 after purchasing an additional 1,303 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 acquiring an additional 1,342 shares during the period. Institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Stock Performance

NASDAQ:PWP opened at $17.23 on Wednesday. The firm has a market cap of $1.53 billion, a P/E ratio of 37.46 and a beta of 1.69. The firm has a 50-day simple moving average of $20.27 and a 200-day simple moving average of $19.71. Perella Weinberg Partners has a one year low of $14.12 and a one year high of $25.92.

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

Perella Weinberg Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. Perella Weinberg Partners’s dividend payout ratio is presently 60.87%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PWP shares. Wolfe Research set a $21.00 price objective on Perella Weinberg Partners in a research report on Wednesday, January 7th. Wall Street Zen upgraded Perella Weinberg Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price objective on Perella Weinberg Partners from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. Finally, 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 for the company in a report on Thursday, March 12th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.88.

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.