Algert Global LLC Has $8.98 Million Stock Position in Perella Weinberg Partners (NASDAQ:PWP)

Algert Global LLC lifted its stake in Perella Weinberg Partners (NASDAQ:PWP) by 137.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 376,564 shares of the company’s stock after buying an additional 217,918 shares during the quarter. Algert Global LLC’s holdings in Perella Weinberg Partners were worth $8,977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Quadrant Capital Group LLC raised its stake 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 acquiring 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 about $64,000. Meeder Asset Management Inc. acquired a new position in Perella Weinberg Partners in the fourth quarter valued at about $179,000. KLP Kapitalforvaltning AS acquired a new position in Perella Weinberg Partners in the fourth quarter valued at about $248,000. Finally, Aigen Investment Management LP bought a new stake in Perella Weinberg Partners during the fourth quarter worth about $311,000. Institutional investors own 41.07% of the company’s stock.

Analyst Ratings Changes

PWP has been the topic of several recent analyst reports. JMP Securities reduced their target price on 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 increased their target price on Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Finally, The Goldman Sachs Group cut their price target on Perella Weinberg Partners from $20.00 to $18.00 and set a “sell” rating for the company in a report on Wednesday, April 2nd.

Perella Weinberg Partners Stock Performance

NASDAQ:PWP opened at $17.59 on Monday. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -11.13 and a beta of 1.68. The stock’s fifty day moving average price is $18.31 and its two-hundred day moving average price is $22.07. Perella Weinberg Partners has a 52-week low of $13.82 and a 52-week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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) earnings per share.

Perella Weinberg Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners’s dividend payout ratio is -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.