Perella Weinberg Partners (NASDAQ:PWP) Shares Gap Up Following Dividend Announcement

Key Points

• Perella Weinberg Partners shares gapped up from $20.97 to $22.31 after announcing a dividend of $0.07 per share, which signifies a 1.3% yield.
• The stock currently has a market capitalization of $1.94 billion and a negative return on equity of 25.25% following disappointing quarterly earnings that missed analyst expectations.
• Recent analyst reports show mixed ratings, with price targets ranging from $16.00 to $29.00, reflecting some concerns about the company's performance and outlook.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report)'s stock price gapped up prior to trading on Monday after the company announced a dividend. The stock had previously closed at $20.97, but opened at $22.31. Perella Weinberg Partners shares last traded at $21.82, with a volume of 66,205 shares trading hands. The newly announced dividend which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Perella Weinberg Partners's payout ratio is currently -65.12%.

Analysts Set New Price Targets

PWP has been the subject of several recent analyst reports. Wall Street Zen cut shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. JMP Securities decreased their price objective on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group raised their price target 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. Finally, Keefe, Bruyette & Woods cut shares of Perella Weinberg Partners from a "moderate buy" rating to a "hold" rating and raised their price target for the stock from $22.00 to $23.00 in a report on Monday, July 14th.

Perella Weinberg Partners Price Performance

The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 26.68 and a beta of 1.66. The business's fifty day simple moving average is $19.24 and its 200 day simple moving average is $19.88.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.07). The company had revenue of $155.27 million during the quarter, compared to analyst estimates of $188.06 million. Perella Weinberg Partners had a negative return on equity of 25.25% and a net margin of 6.57%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new position in Perella Weinberg Partners during the fourth quarter worth about $413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Perella Weinberg Partners by 21.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,898 shares of the company's stock worth $2,191,000 after purchasing an additional 16,057 shares during the last quarter. Barclays PLC boosted its holdings in Perella Weinberg Partners by 8.7% during the fourth quarter. Barclays PLC now owns 202,517 shares of the company's stock worth $4,828,000 after purchasing an additional 16,130 shares during the last quarter. Deutsche Bank AG boosted its holdings in Perella Weinberg Partners by 53.6% during the fourth quarter. Deutsche Bank AG now owns 45,179 shares of the company's stock worth $1,077,000 after purchasing an additional 15,763 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Perella Weinberg Partners by 49.6% during the fourth quarter. Millennium Management LLC now owns 180,031 shares of the company's stock worth $4,292,000 after purchasing an additional 59,672 shares during the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

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.

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