Basswood Capital Management L.L.C. Cuts Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Basswood Capital Management L.L.C. lowered its stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 650,928 shares of the company's stock after selling 449,691 shares during the period. 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.

A number of other hedge funds and other institutional investors also recently modified their holdings of PWP. Quadrant Capital Group LLC raised 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 valued at $37,000 after acquiring an additional 470 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Perella Weinberg Partners during the 4th quarter valued at approximately $64,000. Meeder Asset Management Inc. purchased a new stake in Perella Weinberg Partners in the 4th quarter worth approximately $179,000. KLP Kapitalforvaltning AS bought a new stake in shares of Perella Weinberg Partners in the 4th quarter worth approximately $248,000. Finally, Aigen Investment Management LP purchased a new position in shares of Perella Weinberg Partners during the fourth quarter valued at approximately $311,000. Institutional investors own 41.07% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Keefe, Bruyette & Woods raised their price target on Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. The Goldman Sachs Group cut their target price on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating on the stock in a research note on Wednesday, April 2nd. Finally, JMP Securities reduced 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 report on Tuesday, April 8th.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ PWP traded up $0.11 during mid-day trading on Friday, hitting $17.57. 491,596 shares of the stock traded hands, compared to its average volume of 616,369. The stock has a fifty day moving average price of $17.86 and a 200-day moving average price of $21.93. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -11.12 and a beta of 1.69. Perella Weinberg Partners has a 52 week low of $13.82 and a 52 week high of $27.03.

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

Perella Weinberg Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, May 14th. Perella Weinberg Partners's dividend payout ratio (DPR) is -65.12%.

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.