Perella Weinberg Partners (NASDAQ:PWP) Receives Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of Perella Weinberg Partners (NASDAQ:PWP) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $23.00 price objective on the stock, up from their prior price objective of $22.00.

A number of other research analysts have also weighed in on PWP. JMP Securities dropped 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 research note on Tuesday, April 8th. The Goldman Sachs Group raised their price target on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the company a “sell” rating in a research report on Thursday, May 15th. Finally, Wall Street Zen lowered shares of Perella Weinberg Partners from a “buy” rating to a “hold” rating in a research report on Saturday.

Perella Weinberg Partners Stock Down 1.3%

Shares of NASDAQ PWP opened at $19.74 on Monday. The firm has a market cap of $1.74 billion, a PE ratio of -45.91 and a beta of 1.66. Perella Weinberg Partners has a 12-month low of $14.12 and a 12-month high of $27.03. The company’s fifty day simple moving average is $18.67 and its 200 day simple moving average is $20.19.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.07. The business 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 1.17% and a negative return on equity of 36.47%. During the same period in the prior year, the firm earned ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Wednesday, May 14th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.28 annualized dividend and a yield of 1.42%. Perella Weinberg Partners’s dividend payout ratio is currently -65.12%.

Hedge Funds Weigh In On Perella Weinberg Partners

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Perella Weinberg Partners by 47.6% in the 4th quarter. Bank of New York Mellon Corp now owns 190,553 shares of the company’s stock worth $4,543,000 after buying an additional 61,428 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Perella Weinberg Partners by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 457,759 shares of the company’s stock worth $10,913,000 after buying an additional 23,754 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Perella Weinberg Partners in the 4th quarter worth approximately $18,493,000. Swiss National Bank grew its stake in Perella Weinberg Partners by 0.9% in the 4th quarter. Swiss National Bank now owns 100,000 shares of the company’s stock worth $2,384,000 after buying an additional 900 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in Perella Weinberg Partners by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,236,570 shares of the company’s stock worth $29,480,000 after buying an additional 30,441 shares in the last quarter. Hedge funds and other institutional investors 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.