Perella Weinberg Partners (NASDAQ:PWP) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP) by 30.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,958 shares of the company’s stock after acquiring an additional 5,761 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Perella Weinberg Partners were worth $595,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PWP. Venturi Wealth Management LLC acquired a new position in Perella Weinberg Partners in the fourth quarter valued at approximately $64,000. Meeder Asset Management Inc. purchased a new position in shares of Perella Weinberg Partners in the 4th quarter valued at $179,000. KLP Kapitalforvaltning AS acquired a new stake in Perella Weinberg Partners during the 4th quarter worth $248,000. Aigen Investment Management LP purchased a new stake in Perella Weinberg Partners in the fourth quarter valued at $311,000. Finally, Versor Investments LP acquired a new position in Perella Weinberg Partners in the fourth quarter valued at $384,000. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Analysts Set New Price Targets

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

Perella Weinberg Partners Stock Up 2.0 %

NASDAQ PWP opened at $17.59 on Friday. The firm has a market cap of $1.53 billion, a P/E ratio of -11.13 and a beta of 1.68. Perella Weinberg Partners has a 52-week low of $13.82 and a 52-week high of $27.03. 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 announced its earnings results on Friday, May 2nd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.07. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. The company had revenue of $211.83 million for the quarter, compared to the consensus estimate of $200.29 million. During the same period last year, the business posted ($0.10) EPS.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.07 per share. 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 currently -17.72%.

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.