Adage Capital Partners GP L.L.C. Sells 231,830 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Adage Capital Partners GP L.L.C. lessened its stake in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 22.3% in the fourth quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Perella Weinberg Partners by 43.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company's stock worth $37,000 after buying an additional 470 shares during the period. Venturi Wealth Management LLC acquired a new stake in Perella Weinberg Partners during the 4th quarter worth about $64,000. Meeder Asset Management Inc. purchased a new position in Perella Weinberg Partners during the 4th quarter valued at about $179,000. KLP Kapitalforvaltning AS acquired a new position in shares of Perella Weinberg Partners in the 4th quarter valued at about $248,000. Finally, Aigen Investment Management LP acquired a new position in shares of Perella Weinberg Partners in the 4th quarter valued at about $311,000. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Price Performance

NASDAQ:PWP traded up $0.25 during trading hours on Friday, reaching $17.50. The company's stock had a trading volume of 617,155 shares, compared to its average volume of 603,165. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -11.02 and a beta of 1.68. Perella Weinberg Partners has a one year low of $11.68 and a one year high of $27.03. The business's 50-day moving average is $18.40 and its 200-day moving average is $22.10.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.28 EPS 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 analyst estimates 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 quarter in the prior year, the firm posted ($0.10) EPS.

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors 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 1.60%. Perella Weinberg Partners's payout ratio is presently -17.72%.

Wall Street Analysts Forecast Growth

PWP has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their price objective 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. Keefe, Bruyette & Woods upped their price target 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. Finally, JMP Securities reduced their price objective on 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.

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.