Wasatch Advisors LP Sells 304,006 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Wasatch Advisors LP trimmed its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 20.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,179,423 shares of the company's stock after selling 304,006 shares during the period. Wasatch Advisors LP owned 1.34% of Perella Weinberg Partners worth $28,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Quadrant Capital Group LLC raised its holdings in Perella Weinberg Partners by 43.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company's stock worth $37,000 after purchasing an additional 470 shares in the last quarter. US Bancorp DE boosted its holdings in Perella Weinberg Partners by 4.4% in the fourth quarter. US Bancorp DE now owns 17,602 shares of the company's stock worth $420,000 after purchasing an additional 746 shares in the last quarter. Rhumbline Advisers grew its stake in Perella Weinberg Partners by 1.2% in the 4th quarter. Rhumbline Advisers now owns 70,861 shares of the company's stock valued at $1,689,000 after buying an additional 854 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Perella Weinberg Partners by 0.9% during the fourth quarter. Swiss National Bank now owns 100,000 shares of the company's stock worth $2,384,000 after buying an additional 900 shares during the last quarter. Finally, Barclays PLC grew its position in Perella Weinberg Partners by 0.8% during the third quarter. Barclays PLC now owns 186,387 shares of the company's stock worth $3,600,000 after buying an additional 1,517 shares in the last quarter. 41.07% of the stock is owned by institutional investors and hedge funds.

Perella Weinberg Partners Stock Up 1.0 %

Shares of Perella Weinberg Partners stock traded up $0.16 on Friday, hitting $15.80. The stock had a trading volume of 786,965 shares, compared to its average volume of 587,879. The business's 50 day moving average is $19.63 and its two-hundred day moving average is $22.34. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -10.00 and a beta of 1.68. Perella Weinberg Partners has a twelve month low of $11.68 and a twelve month high of $27.03.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PWP shares. Keefe, Bruyette & Woods increased their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. The Goldman Sachs Group reduced their target price on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating for the company in a report on Wednesday, April 2nd. Finally, JMP Securities reduced their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a research 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.