403,280 Shares in Perella Weinberg Partners (NASDAQ:PWP) Acquired by Emerald Advisers LLC

Emerald Advisers LLC acquired a new stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 403,280 shares of the company's stock, valued at approximately $7,420,000. Emerald Advisers LLC owned approximately 0.46% of Perella Weinberg Partners as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in shares of Perella Weinberg Partners by 47.6% in the 4th quarter. Bank of New York Mellon Corp now owns 190,553 shares of the company's stock worth $4,543,000 after acquiring an additional 61,428 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Perella Weinberg Partners by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 457,759 shares of the company's stock worth $10,913,000 after acquiring an additional 23,754 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Perella Weinberg Partners in the 4th quarter worth $18,493,000. Swiss National Bank increased its stake in shares of Perella Weinberg Partners by 0.9% in the 4th quarter. Swiss National Bank now owns 100,000 shares of the company's stock worth $2,384,000 after acquiring an additional 900 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Perella Weinberg Partners by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,236,570 shares of the company's stock worth $29,480,000 after acquiring an additional 30,441 shares during the last quarter. Hedge funds and other institutional investors own 41.07% of the company's stock.

Perella Weinberg Partners Trading Down 3.6%

Perella Weinberg Partners stock traded down $0.75 during midday trading on Friday, reaching $20.00. 1,266,355 shares of the stock traded hands, compared to its average volume of 708,342. The company has a 50-day simple moving average of $18.61 and a two-hundred day simple moving average of $20.25. Perella Weinberg Partners has a 12-month low of $14.12 and a 12-month high of $27.03. The firm has a market cap of $1.77 billion, a PE ratio of -46.51 and a beta of 1.66.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.28 earnings per share (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 analysts' expectations of $200.29 million. Perella Weinberg Partners had a negative return on equity of 36.47% and a negative net margin of 1.17%. During the same quarter last year, the business posted ($0.10) EPS.

Perella Weinberg Partners Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on PWP. Keefe, Bruyette & Woods cut their target price on Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, May 12th. Wall Street Zen downgraded Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group raised their price objective on 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, JMP Securities cut their price objective on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a research report 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.