Banque Pictet & Cie SA Makes New Investment in Perella Weinberg Partners (NASDAQ:PWP)

Banque Pictet & Cie SA purchased a new stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 32,905 shares of the company's stock, valued at approximately $605,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Envestnet Asset Management Inc. lifted its stake in shares of Perella Weinberg Partners by 18.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 29,466 shares of the company's stock worth $542,000 after acquiring an additional 4,508 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Perella Weinberg Partners by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 196,289 shares of the company's stock worth $3,612,000 after acquiring an additional 5,736 shares during the period. Rhumbline Advisers lifted its stake in shares of Perella Weinberg Partners by 2.7% in 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. GAMMA Investing LLC lifted 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 worth $70,000 after acquiring an additional 3,674 shares during the period. Finally, Versant Capital Management Inc acquired a new stake in shares of Perella Weinberg Partners in the 1st quarter worth approximately $32,000. 41.07% of the stock is owned by institutional investors and hedge funds.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ:PWP traded down $0.26 during mid-day trading on Monday, hitting $19.74. The stock had a trading volume of 834,959 shares, compared to its average volume of 708,849. The company has a market cap of $1.74 billion, a PE ratio of -45.91 and a beta of 1.66. Perella Weinberg Partners has a 12-month low of $14.12 and a 12-month high of $27.03. The company's 50 day moving average is $18.61 and its 200-day moving average is $20.22.

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

Perella Weinberg Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Wednesday, May 14th were given a $0.07 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.42%. Perella Weinberg Partners's dividend payout ratio (DPR) is presently -65.12%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $23.00 price target (up from $22.00) on shares of Perella Weinberg Partners in a research note on Monday. The Goldman Sachs Group increased their target price on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research note on Thursday, May 15th. Wall Street Zen lowered shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, JMP Securities cut their target price 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.

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.