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

Harbor Capital Advisors Inc. decreased its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 33.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,823 shares of the company's stock after selling 16,392 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Perella Weinberg Partners were worth $604,000 as of its most recent SEC filing.

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

Perella Weinberg Partners Trading Down 2.3%

Shares of NASDAQ PWP traded down $0.42 during mid-day trading on Tuesday, reaching $17.69. The company had a trading volume of 1,071,907 shares, compared to its average volume of 669,370. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -41.14 and a beta of 1.65. Perella Weinberg Partners has a 52 week low of $14.11 and a 52 week high of $27.03. The business's 50-day moving average is $17.48 and its 200-day moving average is $20.89.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released 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 company 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 1.17% and a negative return on equity of 36.47%. During the same period in the previous year, the company earned ($0.10) EPS.

Perella Weinberg Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Wednesday, May 14th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.28 annualized dividend and a yield of 1.58%. Perella Weinberg Partners's dividend payout ratio (DPR) is currently -65.12%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PWP. 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 report on Tuesday, April 8th. Wall Street Zen upgraded Perella Weinberg Partners from a "hold" rating to a "buy" rating in a research report on Saturday. The Goldman Sachs Group upped their target price on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research note on Thursday, May 15th. Finally, Keefe, Bruyette & Woods decreased their price target 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.

Perella Weinberg Partners Company Profile

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.