Perella Weinberg Partners (NASDAQ:PWP) Position Reduced by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC trimmed its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,624 shares of the company's stock after selling 24,395 shares during the period. Ceredex Value Advisors LLC owned about 0.39% of Perella Weinberg Partners worth $8,264,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Perella Weinberg Partners during the 4th quarter valued at about $18,493,000. Channing Capital Management LLC purchased a new stake in Perella Weinberg Partners in the fourth quarter valued at approximately $16,207,000. Franklin Resources Inc. acquired a new position in Perella Weinberg Partners during the fourth quarter worth approximately $13,586,000. Walleye Capital LLC purchased a new position in Perella Weinberg Partners during the fourth quarter worth approximately $10,307,000. Finally, Cannell & Spears LLC acquired a new position in shares of Perella Weinberg Partners in the 4th quarter valued at $8,881,000. 41.07% of the stock is owned by institutional investors and hedge funds.

Perella Weinberg Partners Price Performance

NASDAQ PWP traded up $0.16 during trading hours on Friday, hitting $15.80. The company had a trading volume of 786,965 shares, compared to its average volume of 587,879. The firm's 50 day moving average is $19.63 and its 200 day moving average is $22.34. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -10.00 and a beta of 1.68. Perella Weinberg Partners has a fifty-two week low of $11.68 and a fifty-two week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its earnings results on Friday, February 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Tuesday, February 18th. Perella Weinberg Partners's payout ratio is -17.72%.

Analyst Ratings Changes

PWP has been the topic of several research reports. The Goldman Sachs Group cut 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. Keefe, Bruyette & Woods boosted their target price on Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Finally, JMP Securities cut their price target 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.

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.