Vanguard Group Inc. Sells 49,275 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Vanguard Group Inc. cut its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,280,188 shares of the company’s stock after selling 49,275 shares during the period. Vanguard Group Inc. owned about 2.65% of Perella Weinberg Partners worth $23,212,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PWP. Wellington Management Group LLP grew its holdings in Perella Weinberg Partners by 44.9% during the 1st quarter. Wellington Management Group LLP now owns 7,733,672 shares of the company’s stock valued at $73,017,000 after buying an additional 2,396,198 shares in the last quarter. BlackRock Inc. grew its holdings in Perella Weinberg Partners by 21.6% during the 2nd quarter. BlackRock Inc. now owns 3,197,488 shares of the company’s stock valued at $26,635,000 after buying an additional 567,294 shares in the last quarter. Bank of America Corp DE grew its holdings in Perella Weinberg Partners by 225.3% during the 1st quarter. Bank of America Corp DE now owns 784,157 shares of the company’s stock valued at $7,411,000 after buying an additional 543,075 shares in the last quarter. Northern Trust Corp boosted its position in shares of Perella Weinberg Partners by 417.1% during the 2nd quarter. Northern Trust Corp now owns 399,360 shares of the company’s stock valued at $2,328,000 after acquiring an additional 322,131 shares during the last quarter. Finally, Nantahala Capital Management LLC boosted its position in shares of Perella Weinberg Partners by 80.7% during the 1st quarter. Nantahala Capital Management LLC now owns 502,676 shares of the company’s stock valued at $4,750,000 after acquiring an additional 224,536 shares during the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

Perella Weinberg Partners Price Performance

NASDAQ:PWP opened at $15.22 on Friday. The business has a 50 day moving average of $13.63 and a 200 day moving average of $11.95. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -11.53 and a beta of 1.59. Perella Weinberg Partners has a 1-year low of $6.80 and a 1-year high of $16.07.

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

Perella Weinberg Partners Announces Dividend

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

Analyst Upgrades and Downgrades

PWP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $16.00 price target on shares of Perella Weinberg Partners in a research report on Monday, January 29th. The Goldman Sachs Group restated a “sell” rating and issued a $11.50 target price (down previously from $14.00) on shares of Perella Weinberg Partners in a research report on Tuesday, January 9th. Finally, JMP Securities boosted their target price on Perella Weinberg Partners from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th.

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.