Emerald Mutual Fund Advisers Trust Takes Position in Perella Weinberg Partners (NASDAQ:PWP)

Emerald Mutual Fund Advisers Trust purchased a new stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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.

Several other hedge funds and other institutional investors also recently bought and sold shares of PWP. Raymond James Financial Inc. bought a new stake in shares of Perella Weinberg Partners in the fourth quarter valued at about $18,493,000. Franklin Resources Inc. acquired a new position in Perella Weinberg Partners in the 4th quarter valued at approximately $13,586,000. Walleye Capital LLC acquired a new position in Perella Weinberg Partners in the 4th quarter valued at approximately $10,307,000. Cannell & Spears LLC bought a new stake in shares of Perella Weinberg Partners in the 4th quarter worth approximately $8,881,000. Finally, ExodusPoint Capital Management LP grew its holdings in shares of Perella Weinberg Partners by 334.4% during the 4th quarter. ExodusPoint Capital Management LP now owns 477,870 shares of the company's stock worth $11,392,000 after purchasing an additional 367,869 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut shares of Perella Weinberg Partners from a "moderate buy" rating to a "hold" rating and increased their price objective for the company from $22.00 to $23.00 in a research note on Monday. JMP Securities cut their price target on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group lifted their price objective on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a report on Thursday, May 15th. Finally, Wall Street Zen cut Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday.

Perella Weinberg Partners Stock Down 3.1%

PWP stock traded down $0.62 during trading on Tuesday, hitting $19.12. The company had a trading volume of 488,065 shares, compared to its average volume of 707,969. Perella Weinberg Partners has a 12 month low of $14.12 and a 12 month high of $27.03. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -44.46 and a beta of 1.66. The firm has a 50-day moving average price of $18.67 and a 200-day moving average price of $20.19.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $211.83 million during the quarter, compared to analysts' expectations of $200.29 million. During the same quarter in the prior year, the company earned ($0.10) EPS.

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th were issued a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.46%. Perella Weinberg Partners's dividend payout ratio is currently -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.