Ceredex Value Advisors LLC Reduces Position in Perella Weinberg Partners (NASDAQ:PWP)

Ceredex Value Advisors LLC lowered its stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 26.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 371,019 shares of the company's stock after selling 132,247 shares during the quarter. Ceredex Value Advisors LLC owned about 0.43% of Perella Weinberg Partners worth $7,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PWP. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Perella Weinberg Partners by 122.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company's stock worth $159,000 after buying an additional 5,379 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Perella Weinberg Partners by 16.6% in the first 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 during the period. Arizona State Retirement System grew its position in shares of Perella Weinberg Partners by 15.3% during the second quarter. Arizona State Retirement System now owns 13,020 shares of the company's stock worth $212,000 after purchasing an additional 1,724 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Perella Weinberg Partners by 27.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company's stock worth $215,000 after purchasing an additional 3,237 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Perella Weinberg Partners by 17.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company's stock valued at $272,000 after purchasing an additional 2,537 shares during the period. 41.07% of the stock is owned by hedge funds and other institutional investors.

Perella Weinberg Partners Price Performance

Shares of NASDAQ PWP traded up $0.68 during midday trading on Friday, reaching $20.91. 402,994 shares of the stock traded hands, compared to its average volume of 281,772. The company's 50 day moving average is $19.86 and its 200 day moving average is $17.53. Perella Weinberg Partners has a one year low of $9.57 and a one year high of $22.32. The stock has a market capitalization of $1.79 billion, a PE ratio of -7.26 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its quarterly earnings data 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 negative net margin of 15.75% and a positive return on equity of 56.85%. The business had revenue of $272.00 million during the quarter, compared to analyst estimates of $179.35 million. During the same quarter last year, the business earned $0.16 earnings per share. Perella Weinberg Partners's quarterly revenue was up 64.3% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their price objective 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. JMP Securities raised their target price on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the company a "market outperform" rating in a research note on Wednesday, October 9th.

Perella Weinberg Partners Company 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.