The Goldman Sachs Group Cuts Perella Weinberg Partners (NASDAQ:PWP) Price Target to $18.50

Perella Weinberg Partners (NASDAQ:PWP) had its price target lowered by The Goldman Sachs Group from $21.50 to $18.50 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a sell rating on the stock.

Several other analysts have also recently weighed in on the company. Wolfe Research set a $21.00 price objective on Perella Weinberg Partners in a report on Wednesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Perella Weinberg Partners from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, February 9th. Wall Street Zen upgraded shares of Perella Weinberg Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.88.

Perella Weinberg Partners Trading Up 0.4%

Shares of PWP stock opened at $16.09 on Thursday. Perella Weinberg Partners has a 1 year low of $14.12 and a 1 year high of $25.92. The firm’s 50 day moving average is $20.34 and its 200-day moving average is $19.80. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 34.98 and a beta of 1.69.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings data on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Perella Weinberg Partners had a net margin of 4.69% and a negative return on equity of 25.81%. The firm had revenue of $219.16 million during the quarter, compared to analysts’ expectations of $192.84 million.

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Tuesday, February 17th were issued a $0.07 dividend. The ex-dividend date was Tuesday, February 17th. This represents a $0.28 annualized dividend and a yield of 1.7%. Perella Weinberg Partners’s dividend payout ratio (DPR) is 60.87%.

Hedge Funds Weigh In On Perella Weinberg Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in shares of Perella Weinberg Partners by 79.1% in the first quarter. AQR Capital Management LLC now owns 23,435 shares of the company’s stock worth $431,000 after acquiring an additional 10,350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Perella Weinberg Partners by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company’s stock valued at $566,000 after purchasing an additional 1,342 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Perella Weinberg Partners during the 1st quarter valued at about $2,577,000. Teacher Retirement System of Texas acquired a new position in shares of Perella Weinberg Partners in the 2nd quarter valued at approximately $197,000. Finally, ProShare Advisors LLC increased its stake in Perella Weinberg Partners by 11.6% during the 2nd quarter. ProShare Advisors LLC now owns 12,502 shares of the company’s stock worth $243,000 after purchasing an additional 1,303 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

About Perella Weinberg Partners

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.