Ceredex Value Advisors LLC Has $7.16 Million Position in Perella Weinberg Partners (NASDAQ:PWP)

Ceredex Value Advisors LLC cut its position in shares of Perella Weinberg Partners (NASDAQ:PWP) by 26.3% during the third quarter, Holdings Channel reports. The institutional investor owned 371,019 shares of the company’s stock after selling 132,247 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Perella Weinberg Partners were worth $7,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PWP. Westwood Holdings Group Inc. bought a new stake in shares of Perella Weinberg Partners in the 2nd quarter worth approximately $35,715,000. Millennium Management LLC raised its stake in shares of Perella Weinberg Partners by 2,883.9% in the second quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock valued at $28,012,000 after purchasing an additional 1,666,015 shares in the last quarter. William Blair Investment Management LLC bought a new position in Perella Weinberg Partners in the second quarter worth $20,198,000. Boston Partners boosted its stake in Perella Weinberg Partners by 247.7% during the first quarter. Boston Partners now owns 534,968 shares of the company’s stock worth $7,568,000 after buying an additional 381,091 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Perella Weinberg Partners by 17.5% during the first quarter. Russell Investments Group Ltd. now owns 1,114,240 shares of the company’s stock worth $15,744,000 after buying an additional 166,168 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PWP has been the subject of a number of recent research reports. JMP Securities increased their price objective 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. Keefe, Bruyette & Woods increased their price target on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th.

Perella Weinberg Partners Price Performance

Shares of NASDAQ PWP opened at $20.91 on Friday. Perella Weinberg Partners has a 52-week low of $9.57 and a 52-week high of $22.32. The business has a fifty day moving average of $19.86 and a two-hundred day moving average of $17.53.

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

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.