Perella Weinberg Partners (NASDAQ:PWP) Shares Down 4.8% - Here's Why

Shares of Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) fell 4.8% during trading on Thursday . The stock traded as low as $19.09 and last traded at $18.89. 115,801 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 536,075 shares. The stock had previously closed at $19.85.

Wall Street Analyst Weigh In

PWP has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target 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 target price on shares of Perella Weinberg Partners from $23.00 to $20.00 and set a "sell" rating for the company in a research report on Friday, March 14th.

Perella Weinberg Partners Stock Down 0.3 %

The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -11.65 and a beta of 1.61. The company has a 50 day simple moving average of $22.66 and a 200 day simple moving average of $22.70.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced 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 return on equity of 72.27% and a negative net margin of 7.37%.

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Perella Weinberg Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors 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 yield of 1.52%. Perella Weinberg Partners's dividend payout ratio is presently -17.72%.

Hedge Funds Weigh In On Perella Weinberg Partners

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in Perella Weinberg Partners by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 1,316,562 shares of the company's stock valued at $31,387,000 after purchasing an additional 158,957 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Perella Weinberg Partners by 21.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,898 shares of the company's stock valued at $2,191,000 after buying an additional 16,057 shares during the period. Voloridge Investment Management LLC raised its position in shares of Perella Weinberg Partners by 137.8% during the fourth quarter. Voloridge Investment Management LLC now owns 282,202 shares of the company's stock worth $6,728,000 after acquiring an additional 163,526 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Perella Weinberg Partners in the fourth quarter worth approximately $468,000. Finally, Westwood Holdings Group Inc. boosted its holdings in Perella Weinberg Partners by 0.8% in the fourth 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 during the last quarter. Institutional investors own 41.07% of the company's stock.

Perella Weinberg Partners Company Profile

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.