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

Channing Capital Management LLC purchased a new position in shares of Perella Weinberg Partners (NASDAQ:PWP) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 679,805 shares of the company’s stock, valued at approximately $16,207,000.

A number of other large investors have also bought and sold shares of PWP. Venturi Wealth Management LLC purchased a new position in Perella Weinberg Partners during the 4th quarter valued at about $64,000. Intech Investment Management LLC purchased a new position in shares of Perella Weinberg Partners during the third quarter valued at approximately $197,000. PDT Partners LLC purchased a new stake in Perella Weinberg Partners in the third quarter worth $210,000. Y Intercept Hong Kong Ltd bought a new stake in Perella Weinberg Partners in the third quarter valued at $214,000. Finally, Aigen Investment Management LP bought a new stake in Perella Weinberg Partners in the fourth quarter valued at $311,000. 41.07% of the stock is owned by hedge funds and other institutional investors.

Perella Weinberg Partners Stock Down 9.1 %

PWP opened at $18.43 on Tuesday. The stock has a market cap of $1.60 billion, a PE ratio of -11.66 and a beta of 1.61. The business has a 50 day moving average of $23.80 and a 200-day moving average of $22.65. Perella Weinberg Partners has a 52 week low of $11.68 and a 52 week high of $27.03.

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

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors 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 of this dividend was Tuesday, February 18th. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -17.72%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their price objective on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, February 10th.

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.