174,503 Shares in Perella Weinberg Partners (NASDAQ:PWP) Bought by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. acquired a new position in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 174,503 shares of the company's stock, valued at approximately $4,160,000. Clark Capital Management Group Inc. owned approximately 0.20% of Perella Weinberg Partners at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PWP. Quadrant Capital Group LLC boosted its holdings in 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 period. US Bancorp DE increased its stake in Perella Weinberg Partners by 4.4% in the fourth quarter. US Bancorp DE now owns 17,602 shares of the company's stock valued at $420,000 after acquiring an additional 746 shares during the period. Ancora Advisors LLC raised its holdings in shares of Perella Weinberg Partners by 0.4% in the 4th quarter. Ancora Advisors LLC now owns 203,446 shares of the company's stock worth $4,850,000 after buying an additional 830 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Perella Weinberg Partners by 1.2% in the 4th quarter. Rhumbline Advisers now owns 70,861 shares of the company's stock worth $1,689,000 after purchasing an additional 854 shares during the last quarter. Finally, Swiss National Bank boosted its position in Perella Weinberg Partners by 0.9% in the fourth quarter. Swiss National Bank now owns 100,000 shares of the company's stock valued at $2,384,000 after buying an additional 900 shares in the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ PWP traded up $1.20 during midday trading on Monday, hitting $18.88. 1,651,310 shares of the stock traded hands, compared to its average volume of 623,061. The business has a 50 day moving average price of $17.79 and a two-hundred day moving average price of $21.92. Perella Weinberg Partners has a one year low of $13.82 and a one year high of $27.03. The company has a market cap of $1.64 billion, a PE ratio of -11.95 and a beta of 1.69.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.07. The business had revenue of $211.83 million for the quarter, compared to analysts' expectations 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 quarter last year, the firm earned ($0.10) EPS.

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.48%. Perella Weinberg Partners's payout ratio is -65.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PWP shares. Keefe, Bruyette & Woods reduced their price objective on Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Monday. JMP Securities decreased their price objective on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group lowered 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 research report on Wednesday, April 2nd.

Perella Weinberg Partners 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.