Perella Weinberg Partners (NASDAQ:PWP) Hits New 52-Week High - Here's What Happened

Shares of Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $28.00 and last traded at $25.31, with a volume of 4779 shares. The stock had previously closed at $26.16.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the company an "outperform" rating in a research report on Monday.

Perella Weinberg Partners Trading Down 3.6 %

The stock's 50 day moving average is $24.62 and its 200 day moving average is $22.08. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -9.88 and a beta of 1.59.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its quarterly earnings data 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 295.65% and a negative net margin of 11.09%.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.20%. Perella Weinberg Partners's dividend payout ratio (DPR) is presently -11.81%.

Hedge Funds Weigh In On Perella Weinberg Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC purchased a new position in shares of Perella Weinberg Partners during the 4th quarter worth $64,000. Intech Investment Management LLC purchased a new stake in Perella Weinberg Partners in the 3rd quarter valued at about $197,000. PDT Partners LLC acquired a new position in shares of Perella Weinberg Partners during the 3rd quarter valued at about $210,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Perella Weinberg Partners during the 3rd quarter worth about $214,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Perella Weinberg Partners during the 4th quarter worth about $248,000. 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.