Algert Global LLC Purchases 217,918 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Algert Global LLC grew its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 137.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 376,564 shares of the company's stock after buying an additional 217,918 shares during the period. Algert Global LLC owned 0.43% of Perella Weinberg Partners worth $8,977,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quadrant Capital Group LLC increased its stake in shares of 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 during the period. Venturi Wealth Management LLC acquired a new position in Perella Weinberg Partners in the 4th quarter valued at $64,000. Meeder Asset Management Inc. bought a new position in Perella Weinberg Partners during the fourth quarter worth about $179,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Perella Weinberg Partners in the fourth quarter valued at approximately $248,000. Finally, Aigen Investment Management LP bought a new stake in shares of Perella Weinberg Partners during the 4th quarter valued at $311,000. 41.07% of the stock is currently owned by institutional investors.

Perella Weinberg Partners Stock Up 0.2 %

Perella Weinberg Partners stock traded up $0.04 during trading hours on Wednesday, reaching $16.76. 1,237,255 shares of the company's stock were exchanged, compared to its average volume of 613,280. The firm's 50 day simple moving average is $17.96 and its 200 day simple moving average is $21.96. Perella Weinberg Partners has a twelve month low of $13.82 and a twelve month high of $27.03. The firm has a market capitalization of $1.45 billion, a PE ratio of -10.61 and a beta of 1.69.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.21 by $0.07. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. The business had revenue of $211.83 million during the quarter, compared to analysts' expectations of $200.29 million. During the same quarter last year, the firm posted ($0.10) earnings per share.

Perella Weinberg Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Wednesday, May 14th will be given a dividend of $0.07 per share. The ex-dividend date is Wednesday, May 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.67%. Perella Weinberg Partners's payout ratio is presently -65.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted 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. JMP Securities dropped their target price on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group decreased their price target on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Wednesday, April 2nd.

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.