Wells Fargo & Company MN raised its stake in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 49.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,723 shares of the company's stock after buying an additional 20,868 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Perella Weinberg Partners worth $1,495,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Perella Weinberg Partners during the fourth quarter valued at approximately $18,493,000. Channing Capital Management LLC acquired a new position in Perella Weinberg Partners in the 4th quarter valued at $16,207,000. Franklin Resources Inc. purchased a new position in shares of Perella Weinberg Partners during the 4th quarter worth $13,586,000. Cannell & Spears LLC acquired a new stake in shares of Perella Weinberg Partners during the fourth quarter worth $8,881,000. Finally, ExodusPoint Capital Management LP grew its position in shares of Perella Weinberg Partners by 334.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 477,870 shares of the company's stock valued at $11,392,000 after purchasing an additional 367,869 shares during the period. Hedge funds and other institutional investors own 41.07% of the company's stock.
Perella Weinberg Partners Trading Down 1.9 %
Shares of Perella Weinberg Partners stock traded down $0.33 during trading hours on Friday, reaching $16.93. The stock had a trading volume of 360,826 shares, compared to its average volume of 601,452. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -10.68 and a beta of 1.68. Perella Weinberg Partners has a 1 year low of $11.68 and a 1 year high of $27.03. The firm has a 50 day simple moving average of $18.40 and a two-hundred day simple moving average of $22.10.
Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.21 by $0.07. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. The firm had revenue of $211.83 million for the quarter, compared to analyst estimates of $200.29 million. During the same quarter last year, the firm posted ($0.10) earnings per share.
Perella Weinberg Partners Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.28 dividend on an annualized basis and a yield of 1.65%. Perella Weinberg Partners's dividend payout ratio (DPR) is -17.72%.
Analysts Set New Price Targets
A number of analysts have issued reports on PWP shares. The Goldman Sachs Group decreased their price target on Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Finally, JMP Securities decreased their price target 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.
Check Out Our Latest Analysis on PWP
Perella Weinberg Partners Profile
(
Free Report)
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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