Perella Weinberg Partners (NASDAQ:PWP) Stock Price Down 4.3% - Time to Sell?

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) dropped 4.3% during trading on Friday . The stock traded as low as $16.38 and last traded at $16.51. Approximately 87,786 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 807,269 shares. The stock had previously closed at $17.25.

Wall Street Analysts Forecast Growth

PWP has been the topic of a number of recent analyst reports. JMP Securities lowered 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. Keefe, Bruyette & Woods boosted their price objective 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, 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 for the company in a research note on Wednesday, April 2nd.

Perella Weinberg Partners Stock Performance

The firm has a fifty day simple moving average of $18.19 and a 200-day simple moving average of $22.04. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -10.58 and a beta of 1.69.

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

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Wednesday, May 14th. Perella Weinberg Partners's payout ratio is -65.12%.

Institutional Trading of Perella Weinberg Partners

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc bought a new position in Perella Weinberg Partners during the 1st quarter worth $32,000. Quadrant Capital Group LLC grew its position in Perella Weinberg Partners by 43.9% during 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 in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Perella Weinberg Partners during the 4th quarter worth $64,000. GAMMA Investing LLC grew its stake in Perella Weinberg Partners by 2,401.3% during the first quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock worth $70,000 after buying an additional 3,674 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Perella Weinberg Partners in the fourth quarter valued at approximately $179,000. 41.07% of the stock is owned by institutional investors and hedge funds.

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.