Keefe, Bruyette & Woods Has Lowered Expectations for Perella Weinberg Partners (NASDAQ:PWP) Stock Price

Perella Weinberg Partners (NASDAQ:PWP - Free Report) had its price objective reduced by Keefe, Bruyette & Woods from $24.00 to $22.00 in a report issued on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on PWP. JMP Securities cut their target price 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. The Goldman Sachs Group cut their target price on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Wednesday, April 2nd.

Perella Weinberg Partners Price Performance

NASDAQ:PWP traded up $0.16 during mid-day trading on Monday, reaching $19.13. The stock had a trading volume of 968,577 shares, compared to its average volume of 633,783. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -12.11 and a beta of 1.69. Perella Weinberg Partners has a 1-year low of $13.82 and a 1-year high of $27.03. The stock's 50 day simple moving average is $17.71 and its two-hundred day simple moving average is $21.86.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.07. The business had revenue of $211.83 million during the quarter, compared to the consensus estimate of $200.29 million. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. During the same period last year, the firm earned ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.46%. Perella Weinberg Partners's dividend payout ratio is currently -65.12%.

Institutional Investors Weigh In On Perella Weinberg Partners

A number of hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd raised its holdings in shares of Perella Weinberg Partners by 150.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 40,411 shares of the company's stock valued at $743,000 after buying an additional 24,291 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Perella Weinberg Partners by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company's stock valued at $566,000 after buying an additional 1,342 shares during the last quarter. Clark Capital Management Group Inc. raised its holdings in shares of Perella Weinberg Partners by 16.9% during the first quarter. Clark Capital Management Group Inc. now owns 203,941 shares of the company's stock valued at $3,753,000 after buying an additional 29,438 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Perella Weinberg Partners by 79.1% during the first quarter. AQR Capital Management LLC now owns 23,435 shares of the company's stock valued at $431,000 after buying an additional 10,350 shares during the last quarter. Finally, Ancora Advisors LLC raised its holdings in shares of Perella Weinberg Partners by 2.2% during the first quarter. Ancora Advisors LLC now owns 207,966 shares of the company's stock valued at $3,827,000 after buying an additional 4,520 shares during the last quarter. 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.