Cannell & Spears LLC Makes New $8.88 Million Investment in Perella Weinberg Partners (NASDAQ:PWP)

Cannell & Spears LLC purchased a new stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 372,526 shares of the company's stock, valued at approximately $8,881,000. Cannell & Spears LLC owned about 0.42% of Perella Weinberg Partners as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PWP. Meeder Asset Management Inc. acquired a new stake in Perella Weinberg Partners during the fourth quarter worth about $179,000. Wellington Management Group LLP lifted its position in Perella Weinberg Partners by 13.7% during the fourth quarter. Wellington Management Group LLP now owns 1,316,562 shares of the company's stock valued at $31,387,000 after buying an additional 158,957 shares in the last quarter. Vanguard Group Inc. lifted its position in Perella Weinberg Partners by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company's stock valued at $75,426,000 after buying an additional 260,319 shares in the last quarter. LPL Financial LLC grew its stake in Perella Weinberg Partners by 22.7% during the fourth quarter. LPL Financial LLC now owns 54,917 shares of the company's stock worth $1,309,000 after buying an additional 10,173 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Perella Weinberg Partners in the 4th quarter valued at $248,000. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Trading Down 7.0 %

NASDAQ PWP traded down $1.19 during mid-day trading on Friday, reaching $15.79. 620,476 shares of the company's stock traded hands, compared to its average volume of 559,289. Perella Weinberg Partners has a 1-year low of $11.68 and a 1-year high of $27.03. The company has a fifty day simple moving average of $22.05 and a 200-day simple moving average of $22.63. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -9.94 and a beta of 1.61.

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Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its quarterly earnings results on Friday, February 7th. The company reported $0.26 earnings per share 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 business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.28 annualized dividend and a dividend yield of 1.77%. Perella Weinberg Partners's payout ratio is -17.72%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their target price 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. The Goldman Sachs Group dropped their price objective on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating on the stock in a research note on Wednesday.

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.