Royce & Associates LP Sells 119,053 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Royce & Associates LP reduced its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,060,058 shares of the company's stock after selling 119,053 shares during the period. Royce & Associates LP owned about 1.20% of Perella Weinberg Partners worth $25,272,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in Perella Weinberg Partners in the 4th quarter worth about $64,000. Intech Investment Management LLC purchased a new stake in shares of Perella Weinberg Partners in the third quarter worth approximately $197,000. PDT Partners LLC acquired a new stake in shares of Perella Weinberg Partners during the third quarter worth approximately $210,000. Y Intercept Hong Kong Ltd purchased a new position in Perella Weinberg Partners during the third quarter valued at approximately $214,000. Finally, Aigen Investment Management LP acquired a new position in Perella Weinberg Partners in the 4th quarter valued at approximately $311,000. Hedge funds and other institutional investors own 41.07% of the company's stock.

Perella Weinberg Partners Price Performance

PWP traded down $0.09 during midday trading on Thursday, hitting $19.52. 459,395 shares of the company's stock traded hands, compared to its average volume of 529,054. The company has a market cap of $1.69 billion, a PE ratio of -12.35 and a beta of 1.61. The stock's fifty day simple moving average is $23.23 and its 200-day simple moving average is $22.60. Perella Weinberg Partners has a one year low of $11.68 and a one year high of $27.03.

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Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its quarterly earnings data 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders 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 dividend yield of 1.43%. The ex-dividend date was Tuesday, February 18th. Perella Weinberg Partners's dividend payout ratio is -17.72%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased 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 note on Friday, March 14th. Keefe, Bruyette & Woods lifted their price objective on Perella Weinberg Partners from $27.00 to $29.00 and gave the company an "outperform" rating in a research report on Monday, February 10th.

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.