Adage Capital Partners GP L.L.C. Has $19.21 Million Stake in Perella Weinberg Partners (NASDAQ:PWP)

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 805,785 shares of the company's stock after selling 231,830 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.91% of Perella Weinberg Partners worth $19,210,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Perella Weinberg Partners during the fourth quarter worth approximately $18,493,000. Channing Capital Management LLC acquired a new stake in Perella Weinberg Partners during the 4th quarter valued at $16,207,000. Franklin Resources Inc. acquired a new stake in Perella Weinberg Partners during the 4th quarter valued at $13,586,000. Walleye Capital LLC acquired a new position in Perella Weinberg Partners in the fourth quarter worth $10,307,000. Finally, Cannell & Spears LLC acquired a new position in Perella Weinberg Partners in the fourth quarter worth $8,881,000. 41.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PWP has been the subject of a number of research analyst reports. JMP Securities cut their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group dropped their target price on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods upped 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 report on Monday, February 10th.

Perella Weinberg Partners Price Performance

Shares of PWP stock traded up $0.08 on Thursday, reaching $17.25. 1,362,412 shares of the stock were exchanged, compared to its average volume of 813,566. Perella Weinberg Partners has a one year low of $11.68 and a one year high of $27.03. The stock has a market cap of $1.50 billion, a PE ratio of -10.92 and a beta of 1.68. The stock has a 50 day moving average price of $18.52 and a 200 day moving average price of $22.13.

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 the consensus estimate of $0.28 by ($0.02). Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%.

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 paid a $0.07 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.28 dividend on an annualized basis and a yield of 1.62%. Perella Weinberg Partners's payout ratio is presently -17.72%.

About Perella Weinberg Partners

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.