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

Channing Capital Management LLC acquired a new position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PWP. Raymond James Financial Inc. acquired a new position in Perella Weinberg Partners during the 4th quarter valued at about $18,493,000. Wellington Management Group LLP increased its stake in Perella Weinberg Partners by 200.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,157,605 shares of the company's stock valued at $22,353,000 after buying an additional 771,736 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Perella Weinberg Partners by 175.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 570,719 shares of the company's stock valued at $11,021,000 after buying an additional 363,331 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Perella Weinberg Partners by 197.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company's stock valued at $8,381,000 after buying an additional 288,186 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in Perella Weinberg Partners by 32.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 756,540 shares of the company's stock valued at $14,609,000 after buying an additional 183,905 shares during the period. Institutional investors and hedge funds own 41.07% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Perella Weinberg Partners from $23.00 to $20.00 and set a "sell" rating on the stock in a research note on Friday. Keefe, Bruyette & Woods raised their price objective on shares of 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 Stock Performance

Shares of NASDAQ:PWP traded down $0.16 during trading hours on Friday, hitting $19.48. 1,272,748 shares of the company's stock traded hands, compared to its average volume of 767,883. Perella Weinberg Partners has a 52 week low of $11.68 and a 52 week high of $27.03. The company's fifty day simple moving average is $23.54 and its two-hundred day simple moving average is $22.60. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -12.33 and a beta of 1.61.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Tuesday, February 18th. Perella Weinberg Partners's payout ratio is -17.72%.

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.