Emerald Mutual Fund Advisers Trust Makes New $3.80 Million Investment in Perella Weinberg Partners (NASDAQ:PWP)

Emerald Mutual Fund Advisers Trust purchased a new position in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 206,426 shares of the company's stock, valued at approximately $3,798,000. Emerald Mutual Fund Advisers Trust owned 0.24% of Perella Weinberg Partners at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Banque Pictet & Cie SA acquired a new stake in shares of Perella Weinberg Partners during the 1st quarter worth about $605,000. Envestnet Asset Management Inc. boosted its stake in Perella Weinberg Partners by 18.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 29,466 shares of the company's stock worth $542,000 after purchasing an additional 4,508 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Perella Weinberg Partners by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 196,289 shares of the company's stock worth $3,612,000 after buying an additional 5,736 shares during the last quarter. Rhumbline Advisers lifted its position in Perella Weinberg Partners by 2.7% during the 1st quarter. Rhumbline Advisers now owns 72,801 shares of the company's stock worth $1,340,000 after acquiring an additional 1,940 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Perella Weinberg Partners by 2,401.3% in the 1st quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock valued at $70,000 after purchasing an additional 3,674 shares during the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Stock Down 3.6%

Shares of Perella Weinberg Partners stock traded down $0.75 during trading on Friday, hitting $20.00. 1,266,355 shares of the company were exchanged, compared to its average volume of 709,665. The firm has a 50 day moving average price of $18.61 and a 200 day moving average price of $20.28. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -46.51 and a beta of 1.66. Perella Weinberg Partners has a fifty-two week low of $14.12 and a fifty-two week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.07. Perella Weinberg Partners had a negative return on equity of 36.47% and a negative net margin of 1.17%. The business had revenue of $211.83 million for the quarter, compared to analyst estimates of $200.29 million. During the same quarter last year, the company earned ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Wednesday, May 14th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Wednesday, May 14th. Perella Weinberg Partners's payout ratio is -65.12%.

Analysts Set New Price Targets

PWP has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price target on Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, May 12th. JMP Securities reduced their target price on 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. The Goldman Sachs Group upped their target price on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen downgraded shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday.

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.