Perella Weinberg Partners (NASDAQ:PWP) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lessened its stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 20.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,179,423 shares of the company's stock after selling 304,006 shares during the quarter. Wasatch Advisors LP owned 1.34% of Perella Weinberg Partners worth $28,117,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PWP. JPMorgan Chase & Co. grew its position in shares of Perella Weinberg Partners by 49.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 435,922 shares of the company's stock valued at $8,418,000 after buying an additional 144,222 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Perella Weinberg Partners by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,257,620 shares of the company's stock valued at $24,289,000 after purchasing an additional 34,301 shares during the period. Kings Path Partners LLC purchased a new position in Perella Weinberg Partners during the 4th quarter worth approximately $535,000. Bank of New York Mellon Corp increased its position in Perella Weinberg Partners by 47.6% during the fourth quarter. Bank of New York Mellon Corp now owns 190,553 shares of the company's stock worth $4,543,000 after buying an additional 61,428 shares during the period. Finally, Ranger Investment Management L.P. acquired a new position in Perella Weinberg Partners during the fourth quarter worth approximately $5,486,000. 41.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PWP. The Goldman Sachs Group lowered 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 research report on Wednesday, April 2nd. JMP Securities dropped their price objective 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. Finally, Keefe, Bruyette & Woods increased their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th.

Perella Weinberg Partners Stock Performance

Perella Weinberg Partners stock traded up $0.34 during trading hours on Tuesday, reaching $15.87. 131,627 shares of the stock were exchanged, compared to its average volume of 588,874. Perella Weinberg Partners has a 52-week low of $11.68 and a 52-week high of $27.03. The stock has a market cap of $1.38 billion, a P/E ratio of -10.06 and a beta of 1.68. The firm's 50 day moving average is $19.48 and its 200 day moving average is $22.33.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.02). Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%.

Perella Weinberg Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.76%. The ex-dividend date was Tuesday, February 18th. Perella Weinberg Partners's payout ratio is -17.72%.

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.