Perella Weinberg Partners (NASDAQ:PWP) Shares Down 4.3% – Time to Sell?

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

Analyst Upgrades and Downgrades

PWP has been the topic of several research reports. JMP Securities cut their price objective on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group dropped their target price on 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. Finally, Keefe, Bruyette & Woods boosted 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 Trading Up 2.0 %

The stock has a market cap of $1.53 billion, a PE 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 issued its quarterly earnings results on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.07. The business had revenue of $211.83 million for the quarter, compared to the consensus estimate of $200.29 million. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. During the same period in the prior year, the firm posted ($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. Shareholders of record on Tuesday, February 18th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners’s dividend payout ratio is presently -17.72%.

Hedge Funds Weigh In On Perella Weinberg Partners

Several hedge funds have recently modified their holdings of the stock. Emerald Advisers LLC acquired a new stake in Perella Weinberg Partners in the 1st quarter worth approximately $7,420,000. New York State Common Retirement Fund lifted its stake in shares of Perella Weinberg Partners by 402.6% during the first quarter. New York State Common Retirement Fund now owns 849,590 shares of the company’s stock worth $15,632,000 after buying an additional 680,563 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Perella Weinberg Partners during the first quarter valued at $3,798,000. Banque Pictet & Cie SA acquired a new position in shares of Perella Weinberg Partners in the 1st quarter valued at $605,000. Finally, Envestnet Asset Management Inc. raised its stake in Perella Weinberg Partners by 18.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 29,466 shares of the company’s stock worth $542,000 after acquiring an additional 4,508 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

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.