Wellington Management Group LLP Increases Stock Position in Perella Weinberg Partners (NASDAQ:PWP)

Wellington Management Group LLP lifted its position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,316,562 shares of the company's stock after purchasing an additional 158,957 shares during the quarter. Wellington Management Group LLP owned about 1.52% of Perella Weinberg Partners worth $31,387,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in Perella Weinberg Partners by 43.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company's stock valued at $37,000 after acquiring an additional 470 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Perella Weinberg Partners by 1.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,403 shares of the company's stock valued at $701,000 after buying an additional 518 shares during the last quarter. US Bancorp DE grew its stake in shares of Perella Weinberg Partners by 4.4% during the fourth quarter. US Bancorp DE now owns 17,602 shares of the company's stock valued at $420,000 after buying an additional 746 shares during the last quarter. Ancora Advisors LLC grew its stake in shares of Perella Weinberg Partners by 0.4% during the fourth quarter. Ancora Advisors LLC now owns 203,446 shares of the company's stock valued at $4,850,000 after buying an additional 830 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Perella Weinberg Partners by 1.2% during the fourth quarter. Rhumbline Advisers now owns 70,861 shares of the company's stock valued at $1,689,000 after buying an additional 854 shares during the last quarter. Institutional investors own 41.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PWP. JMP Securities reduced their price objective on 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. The Goldman Sachs Group increased their target price on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a report on Thursday, May 15th. Wall Street Zen lowered shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, 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 report on Monday, May 12th.

Perella Weinberg Partners Price Performance

PWP traded up $0.10 on Tuesday, hitting $17.59. The company had a trading volume of 1,102,577 shares, compared to its average volume of 859,566. Perella Weinberg Partners has a 52-week low of $13.82 and a 52-week high of $27.03. The stock has a fifty day simple moving average of $17.30 and a 200-day simple moving average of $21.42. The firm has a market capitalization of $1.55 billion, a P/E ratio of -11.13 and a beta of 1.69.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its earnings results 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. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. The firm had revenue of $211.83 million during the quarter, compared to analyst estimates of $200.29 million. During the same period last year, the business earned ($0.10) earnings per share.

Perella Weinberg Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.59%. Perella Weinberg Partners's payout ratio is -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.