32,905 Shares in Perella Weinberg Partners (NASDAQ:PWP) Acquired by Banque Pictet & Cie SA

Banque Pictet & Cie SA bought a new position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 32,905 shares of the company's stock, valued at approximately $605,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in Perella Weinberg Partners in the first quarter valued at about $32,000. Quadrant Capital Group LLC boosted its position in Perella Weinberg Partners by 43.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company's stock valued at $37,000 after buying an additional 470 shares in the last quarter. GAMMA Investing LLC boosted its position in Perella Weinberg Partners by 2,401.3% in the first quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock valued at $70,000 after buying an additional 3,674 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Perella Weinberg Partners in the fourth quarter valued at about $179,000. Finally, State of Wyoming boosted its position in Perella Weinberg Partners by 180.4% in the fourth quarter. State of Wyoming now owns 8,855 shares of the company's stock valued at $211,000 after buying an additional 5,697 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Price Performance

Shares of PWP stock traded down $0.75 during trading hours on Friday, reaching $20.00. 1,266,355 shares of the company were exchanged, compared to its average volume of 708,342. Perella Weinberg Partners has a fifty-two week low of $14.12 and a fifty-two week high of $27.03. The stock's fifty day moving average is $18.61 and its two-hundred day moving average is $20.22. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -46.51 and a beta of 1.66.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced 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. The company had revenue of $211.83 million for the quarter, compared to analyst estimates of $200.29 million. Perella Weinberg Partners had a negative net margin of 1.17% and a negative return on equity of 36.47%. During the same period in the prior year, the business earned ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Wednesday, May 14th. Perella Weinberg Partners's dividend payout ratio (DPR) is -65.12%.

Wall Street Analyst Weigh In

PWP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, May 12th. JMP Securities reduced their target price 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. 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 lowered shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday.

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.