Emerald Advisers LLC Invests $7.42 Million in Perella Weinberg Partners (NASDAQ:PWP)

Emerald Advisers LLC purchased a new position in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 403,280 shares of the company's stock, valued at approximately $7,420,000. Emerald Advisers LLC owned 0.46% of Perella Weinberg Partners at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund grew its holdings in Perella Weinberg Partners by 402.6% during the first quarter. New York State Common Retirement Fund now owns 849,590 shares of the company's stock valued at $15,632,000 after purchasing an additional 680,563 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new position in Perella Weinberg Partners during the first quarter valued at approximately $3,798,000. Banque Pictet & Cie SA acquired a new position in Perella Weinberg Partners during the first quarter valued at approximately $605,000. Envestnet Asset Management Inc. grew its holdings in Perella Weinberg Partners by 18.1% during the first quarter. Envestnet Asset Management Inc. now owns 29,466 shares of the company's stock valued at $542,000 after purchasing an additional 4,508 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in 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 valued at $3,612,000 after purchasing an additional 5,736 shares during the period. Institutional investors and hedge funds own 41.07% of the company's stock.

Perella Weinberg Partners Price Performance

PWP traded up $0.09 during trading on Wednesday, reaching $19.21. The company had a trading volume of 780,876 shares, compared to its average volume of 708,281. Perella Weinberg Partners has a 12 month low of $14.12 and a 12 month high of $27.03. The business's fifty day moving average price is $18.72 and its 200 day moving average price is $20.19. The company has a market cap of $1.70 billion, a P/E ratio of 14.60 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 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.07. The business 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 quarter in the previous year, the firm posted ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Wednesday, May 14th. Perella Weinberg Partners's dividend payout ratio is presently -65.12%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a report on Thursday, May 15th. Keefe, Bruyette & Woods lowered shares of Perella Weinberg Partners from a "moderate buy" rating to a "hold" rating and lifted their price target for the company from $22.00 to $23.00 in a research note on Monday. 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 price target on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating on the stock 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.