Harbor Capital Advisors Inc. Sells 16,392 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Harbor Capital Advisors Inc. cut its stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 33.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,823 shares of the company's stock after selling 16,392 shares during the period. Harbor Capital Advisors Inc.'s holdings in Perella Weinberg Partners were worth $604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in shares of Perella Weinberg Partners in the 4th quarter valued at approximately $18,493,000. Channing Capital Management LLC acquired a new position in Perella Weinberg Partners in the 4th quarter valued at $16,207,000. Franklin Resources Inc. acquired a new position in Perella Weinberg Partners in the 4th quarter valued at $13,586,000. Walleye Capital LLC acquired a new stake in Perella Weinberg Partners in the 4th quarter worth $10,307,000. Finally, Cannell & Spears LLC acquired a new stake in Perella Weinberg Partners in the 4th quarter worth $8,881,000. 41.07% of the stock is currently owned by institutional investors.

Perella Weinberg Partners Trading Down 5.8%

Shares of PWP stock traded down $1.08 during trading hours on Friday, hitting $17.64. 872,863 shares of the company were exchanged, compared to its average volume of 662,885. The business has a 50 day moving average of $17.43 and a two-hundred day moving average of $21.02. Perella Weinberg Partners has a 52 week low of $13.82 and a 52 week high of $27.03. The company has a market capitalization of $1.56 billion, a PE ratio of -11.16 and a beta of 1.65.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.07. The firm had revenue of $211.83 million during the quarter, compared to analysts' expectations of $200.29 million. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. During the same quarter last year, the company posted ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders 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 1.59%. The ex-dividend date was Wednesday, May 14th. Perella Weinberg Partners's dividend payout ratio is presently -65.12%.

Analyst Ratings Changes

PWP has been the topic of a number of analyst reports. The Goldman Sachs Group upped 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 upgraded shares of Perella Weinberg Partners from a "hold" rating to a "buy" rating in a research report on Saturday. JMP Securities reduced 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 report on Tuesday, April 8th. Finally, 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.

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.