Nuveen Asset Management LLC Reduces Stock Position in Perella Weinberg Partners (NASDAQ:PWP)

Nuveen Asset Management LLC trimmed its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 54.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 213,893 shares of the company's stock after selling 255,946 shares during the period. Nuveen Asset Management LLC owned about 0.24% of Perella Weinberg Partners worth $5,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Barclays PLC increased its stake in shares of Perella Weinberg Partners by 0.8% in the third quarter. Barclays PLC now owns 186,387 shares of the company's stock worth $3,600,000 after purchasing an additional 1,517 shares in the last quarter. Calamos Advisors LLC purchased a new position in shares of Perella Weinberg Partners in the fourth quarter worth about $2,231,000. Kingsview Wealth Management LLC purchased a new position in shares of Perella Weinberg Partners in the fourth quarter worth about $2,293,000. Rhumbline Advisers increased its stake in shares of Perella Weinberg Partners by 1.2% in the fourth quarter. Rhumbline Advisers now owns 70,861 shares of the company's stock worth $1,689,000 after purchasing an additional 854 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Perella Weinberg Partners in the fourth quarter worth about $64,000. 41.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PWP shares. Keefe, Bruyette & Woods dropped their target price on shares of Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, May 12th. Wall Street Zen downgraded shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. 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. Finally, JMP Securities lowered their price objective 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.

Perella Weinberg Partners Stock Up 1.7%

Shares of Perella Weinberg Partners stock traded up $0.30 during midday trading on Tuesday, hitting $17.79. The company had a trading volume of 609,431 shares, compared to its average volume of 642,564. Perella Weinberg Partners has a 12-month low of $13.82 and a 12-month high of $27.03. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -11.26 and a beta of 1.69. The company has a fifty day simple moving average of $17.30 and a 200 day simple moving average of $21.42.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.07. The company had revenue of $211.83 million for 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 in the previous year, the company posted ($0.10) EPS.

Perella Weinberg Partners Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, May 14th. Perella Weinberg Partners's dividend payout ratio (DPR) is presently -65.12%.

Perella Weinberg Partners 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.