Perella Weinberg Partners (NASDAQ:PWP) Cut to Hold at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) from a moderate buy rating to a hold rating in a research report report published on Monday, MarketBeat.com reports. Keefe, Bruyette & Woods currently has $23.00 price objective on the stock, up from their prior price objective of $22.00.

PWP has been the topic of several other reports. The Goldman Sachs Group lifted their price target on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a research note on Thursday, May 15th. Wall Street Zen downgraded shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, JMP Securities decreased 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 note on Tuesday, April 8th.

Perella Weinberg Partners Stock Performance

PWP traded up $0.26 on Monday, reaching $19.47. The company had a trading volume of 817,335 shares, compared to its average volume of 709,031. The business has a 50 day simple moving average of $18.81 and a 200 day simple moving average of $20.15. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -45.28 and a beta of 1.66. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $27.03.

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 for the quarter, beating analysts' consensus estimates of $0.21 by $0.07. The business had revenue of $211.83 million for the quarter, compared to the consensus estimate 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 last year, the firm posted ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Wednesday, May 14th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Wednesday, May 14th. Perella Weinberg Partners's payout ratio is -65.12%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Perella Weinberg Partners by 3.8% in the fourth quarter. FMR LLC now owns 8,181,941 shares of the company's stock worth $195,057,000 after buying an additional 301,587 shares during the period. Vanguard Group Inc. boosted its holdings in Perella Weinberg Partners by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company's stock valued at $75,426,000 after acquiring an additional 260,319 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Perella Weinberg Partners by 128.6% in the first quarter. Wellington Management Group LLP now owns 3,009,484 shares of the company's stock valued at $55,375,000 after acquiring an additional 1,692,922 shares in the last quarter. Azora Capital LP boosted its holdings in Perella Weinberg Partners by 3.4% in the fourth quarter. Azora Capital LP now owns 2,492,789 shares of the company's stock valued at $59,428,000 after acquiring an additional 81,747 shares in the last quarter. Finally, Channing Capital Management LLC boosted its holdings in Perella Weinberg Partners by 215.2% in the first quarter. Channing Capital Management LLC now owns 2,142,888 shares of the company's stock valued at $39,429,000 after acquiring an additional 1,463,083 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

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.