Allworth Financial LP Purchases Shares of 3,600 Perella Weinberg Partners (NASDAQ:PWP)

Allworth Financial LP purchased a new stake in shares of Perella Weinberg Partners (NASDAQ:PWP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,600 shares of the company’s stock, valued at approximately $44,000.

Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its stake in shares of Perella Weinberg Partners by 3.8% in the third quarter. FMR LLC now owns 5,780,259 shares of the company’s stock valued at $58,843,000 after buying an additional 210,342 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of Perella Weinberg Partners in the third quarter valued at about $1,897,000. Quantbot Technologies LP bought a new position in Perella Weinberg Partners during the third quarter worth about $62,000. Barclays PLC lifted its stake in Perella Weinberg Partners by 17.6% during the third quarter. Barclays PLC now owns 61,411 shares of the company’s stock worth $625,000 after purchasing an additional 9,185 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Perella Weinberg Partners by 2.2% during the third quarter. Adage Capital Partners GP L.L.C. now owns 2,818,614 shares of the company’s stock worth $28,693,000 after purchasing an additional 61,333 shares during the period. Institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Price Performance

Shares of Perella Weinberg Partners stock opened at $15.22 on Friday. The firm has a market cap of $1.31 billion, a P/E ratio of -11.53 and a beta of 1.59. The firm has a 50 day simple moving average of $13.63 and a 200 day simple moving average of $11.95. Perella Weinberg Partners has a fifty-two week low of $6.80 and a fifty-two week high of $16.07.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.08 earnings per share for the quarter. The business had revenue of $212.68 million during the quarter. Perella Weinberg Partners had a negative net margin of 2.66% and a positive return on equity of 34.39%.

Perella Weinberg Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 28th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Tuesday, February 27th. Perella Weinberg Partners’s dividend payout ratio is currently -21.21%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PWP shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 price target on shares of Perella Weinberg Partners in a research note on Monday, January 29th. JMP Securities raised their price objective on shares of Perella Weinberg Partners from $18.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $11.50 price objective (down previously from $14.00) on shares of Perella Weinberg Partners in a report on Tuesday, January 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.