Basswood Capital Management L.L.C. Sells 449,691 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Basswood Capital Management L.L.C. decreased its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 40.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 650,928 shares of the company's stock after selling 449,691 shares during the quarter. Basswood Capital Management L.L.C. owned approximately 0.74% of Perella Weinberg Partners worth $15,518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Perella Weinberg Partners by 49.4% during the third quarter. JPMorgan Chase & Co. now owns 435,922 shares of the company's stock worth $8,418,000 after buying an additional 144,222 shares during the last quarter. Barclays PLC lifted its holdings in shares of Perella Weinberg Partners by 8.7% in the fourth quarter. Barclays PLC now owns 202,517 shares of the company's stock valued at $4,828,000 after purchasing an additional 16,130 shares in the last quarter. Kings Path Partners LLC acquired a new position in shares of Perella Weinberg Partners during the fourth quarter worth about $535,000. Jump Financial LLC grew its holdings in shares of Perella Weinberg Partners by 181.5% during the fourth quarter. Jump Financial LLC now owns 33,502 shares of the company's stock worth $799,000 after buying an additional 21,602 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Perella Weinberg Partners by 47.6% in the 4th quarter. Bank of New York Mellon Corp now owns 190,553 shares of the company's stock valued at $4,543,000 after buying an additional 61,428 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company's stock.

Perella Weinberg Partners Price Performance

NASDAQ PWP traded down $0.22 on Tuesday, hitting $16.72. 1,067,195 shares of the stock were exchanged, compared to its average volume of 610,275. The business's fifty day moving average is $18.08 and its 200 day moving average is $22.00. Perella Weinberg Partners has a 52 week low of $13.82 and a 52 week high of $27.03. The company has a market capitalization of $1.45 billion, a PE ratio of -10.58 and a beta of 1.69.

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

Perella Weinberg Partners Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on PWP shares. Keefe, Bruyette & Woods raised their price target on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. JMP Securities lowered their price target on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating for the company in a research note 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.