Perella Weinberg Partners (NASDAQ:PWP) Shares Down 4.8% – What’s Next?

Perella Weinberg Partners (NASDAQ:PWP)’s share price dropped 4.8% on Thursday . The stock traded as low as $19.09 and last traded at $18.89. Approximately 115,801 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 536,075 shares. The stock had previously closed at $19.85.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. The Goldman Sachs Group dropped their price objective on shares of Perella Weinberg Partners from $23.00 to $20.00 and set a “sell” rating on the stock in a research note on Friday, March 14th.

Perella Weinberg Partners Price Performance

The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -11.68 and a beta of 1.61. The business has a fifty day moving average price of $22.66 and a 200 day moving average price of $22.63.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%.

Perella Weinberg Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners’s dividend payout ratio is currently -17.72%.

Hedge Funds Weigh In On Perella Weinberg Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC lifted its position in shares of Perella Weinberg Partners by 3.8% in the fourth quarter. FMR LLC now owns 8,181,941 shares of the company’s stock worth $195,057,000 after purchasing an additional 301,587 shares in the last quarter. Vanguard Group Inc. lifted its position in Perella Weinberg Partners by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company’s stock worth $75,426,000 after buying an additional 260,319 shares in the last quarter. Azora Capital LP boosted its stake in shares of Perella Weinberg Partners by 3.4% during the 4th quarter. Azora Capital LP now owns 2,492,789 shares of the company’s stock valued at $59,428,000 after buying an additional 81,747 shares during the period. Westwood Holdings Group Inc. grew its holdings in shares of Perella Weinberg Partners by 0.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,112,393 shares of the company’s stock valued at $50,359,000 after acquiring an additional 15,961 shares in the last quarter. Finally, Wasatch Advisors LP raised its holdings in shares of Perella Weinberg Partners by 13.3% during the third quarter. Wasatch Advisors LP now owns 1,483,429 shares of the company’s stock worth $28,645,000 after acquiring an additional 174,445 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

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.