Investment Trust Shakeup: Boaz Weinstein Targets EWIT with Over 30% Stake
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
- Investor Action: U.S. activist investor Boaz Weinstein launched a campaign in December 2024 to oust boards of seven investment trusts; despite failing in all shareholder votes by Valentine's Day 2025, he has increased his stake in EWIT from 25% to over 30%, indicating ongoing interest.
- Shareholder Mobilization Challenge: EWIT Chairman Jonathan Simpson-Dent acknowledged the need to mobilize at least 12,000 retail shareholders to vote against Weinstein, but currently can only rally 10,000, highlighting vulnerabilities in corporate governance and potential control risks.
- Investment Return Controversy: EWIT's investment in SpaceX since 2018 is expected to yield nearly 950% returns, yet it trimmed its stake before merging with Baillie Gifford US Growth Trust, leading Saba to claim £37 million was left on the table, underscoring complexities in investment decision-making.
- Market Response: Under pressure from Weinstein, some targeted investment trusts have begun to take action to reduce share price discounts, with Herald Investment Trust announcing a tender offer to all shareholders, reflecting a growing emphasis on governance and the potential for sector-wide changes.
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Analyst Views on PWP
Wall Street analysts forecast PWP stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PWP is 20.00 USD with a low forecast of 20.00 USD and a high forecast of 20.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 22.530
Low
20.00
Averages
20.00
High
20.00
Current: 22.530
Low
20.00
Averages
20.00
High
20.00
About PWP
Perella Weinberg Partners is an independent advisory company that provides strategic and financial advice to clients across active industry sectors and international markets. Its single business segment is to provide advisory services, including advice related to strategic and financial decisions, mergers and acquisitions execution, shareholder engagement advisory, financing and capital solutions advice, with a focus on restructuring and liability management, capital markets advisory, and private capital placement, as well as specialized underwriting and research services for the energy and related industries. Its range of global clients includes large public multinational corporations, mid-sized public and private companies, financial sponsors, individual entrepreneurs, private and institutional investors, creditor committees and government institutions. Its areas of industry focus include consumer and retail, energy & energy transition, financial services & fintech, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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