Perella Weinberg Partners (NASDAQ:PWP) Stock Price Down 4.3% – What’s Next?

Perella Weinberg Partners (NASDAQ:PWP) fell 4.3% during trading on Friday . The company traded as low as $16.38 and last traded at $16.51. 87,786 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 807,269 shares. The stock had previously closed at $17.25.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PWP. JMP Securities reduced their price target on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their target price on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their price target on Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th.

Perella Weinberg Partners Stock Performance

The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -11.13 and a beta of 1.68. The business’s 50 day moving average price is $18.31 and its 200 day moving average price is $22.07.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.21 by $0.07. The company had revenue of $211.83 million for the quarter, compared to analyst estimates of $200.29 million. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. During the same quarter last year, the business earned ($0.10) earnings per share.

Perella Weinberg Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.28 dividend on an annualized basis and a yield of 1.59%. Perella Weinberg Partners’s payout ratio is -17.72%.

Hedge Funds Weigh In On Perella Weinberg Partners

Hedge funds have recently bought and sold shares of the business. Barclays PLC raised its stake in shares of Perella Weinberg Partners by 0.8% during the 3rd quarter. Barclays PLC now owns 186,387 shares of the company’s stock worth $3,600,000 after buying an additional 1,517 shares during the period. JPMorgan Chase & Co. raised its position in Perella Weinberg Partners by 49.4% during the third quarter. JPMorgan Chase & Co. now owns 435,922 shares of the company’s stock worth $8,418,000 after acquiring an additional 144,222 shares during the period. Kings Path Partners LLC purchased a new position in Perella Weinberg Partners during the fourth quarter valued at $535,000. SG Americas Securities LLC grew its position in shares of Perella Weinberg Partners by 25.6% in the fourth quarter. SG Americas Securities LLC now owns 26,396 shares of the company’s stock valued at $629,000 after purchasing an additional 5,374 shares during the period. Finally, Calamos Advisors LLC purchased a new stake in shares of Perella Weinberg Partners during the fourth quarter worth about $2,231,000. Hedge funds and other institutional investors own 41.07% of the company’s stock.

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.