Perella Weinberg Partners' (PWP) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their market perform rating on shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) in a report released on Monday morning,Benzinga reports. They currently have a $23.00 price objective on the stock, up from their prior price objective of $22.00.

A number of other analysts have also weighed in on the company. JMP Securities cut 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 report on Tuesday, April 8th. Wall Street Zen downgraded Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday. Finally, The Goldman Sachs Group increased their price target on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research report on Thursday, May 15th.

Perella Weinberg Partners Trading Down 1.3%

Perella Weinberg Partners stock traded down $0.26 during midday trading on Monday, reaching $19.74. 834,959 shares of the stock traded hands, compared to its average volume of 916,769. The firm has a market cap of $1.74 billion, a PE ratio of -45.91 and a beta of 1.66. The company has a 50-day simple moving average of $18.61 and a two-hundred day simple moving average of $20.22. Perella Weinberg Partners has a 12-month low of $14.12 and a 12-month high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its quarterly 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 business 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 1.17% and a negative return on equity of 36.47%. During the same quarter in the prior year, the company earned ($0.10) earnings per share.

Perella Weinberg Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Wednesday, May 14th. Perella Weinberg Partners's dividend payout ratio is presently -65.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in shares of Perella Weinberg Partners by 47.6% in the 4th quarter. Bank of New York Mellon Corp now owns 190,553 shares of the company's stock valued at $4,543,000 after purchasing an additional 61,428 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Perella Weinberg Partners by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 457,759 shares of the company's stock valued at $10,913,000 after buying an additional 23,754 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Perella Weinberg Partners in the 4th quarter valued at $18,493,000. Swiss National Bank raised its position in Perella Weinberg Partners by 0.9% during the 4th quarter. Swiss National Bank now owns 100,000 shares of the company's stock worth $2,384,000 after buying an additional 900 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of Perella Weinberg Partners by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,236,570 shares of the company's stock valued at $29,480,000 after acquiring an additional 30,441 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company's stock.

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.