Perella Weinberg Partners (NASDAQ:PWP) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Perella Weinberg Partners (NASDAQ:PWP) from a hold rating to a sell rating in a research note released on Saturday morning.

Other analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods reduced their price objective on Perella Weinberg Partners from $21.00 to $19.00 and set a “market perform” rating for the company in a research note on Monday, November 10th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.00.

Perella Weinberg Partners Stock Down 7.1%

Perella Weinberg Partners stock opened at $17.37 on Friday. The company has a market capitalization of $1.54 billion, a PE ratio of 26.32 and a beta of 1.63. Perella Weinberg Partners has a 12-month low of $14.12 and a 12-month high of $27.03. The firm’s fifty day moving average is $20.24 and its 200 day moving average is $19.97.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Perella Weinberg Partners had a negative return on equity of 21.55% and a net margin of 6.15%.The company had revenue of $164.65 million during the quarter, compared to analyst estimates of $179.83 million.

Perella Weinberg Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 17th will be paid a dividend of $0.07 per share. The ex-dividend date is Monday, November 17th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. Perella Weinberg Partners’s payout ratio is 42.42%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Perella Weinberg Partners during the first quarter valued at approximately $40,000. State of Alaska Department of Revenue bought a new position in Perella Weinberg Partners during the 3rd quarter valued at $53,000. CWM LLC boosted its holdings in Perella Weinberg Partners by 162.4% during the 2nd quarter. CWM LLC now owns 3,936 shares of the company’s stock worth $76,000 after acquiring an additional 2,436 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Perella Weinberg Partners in the 2nd quarter worth $92,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Perella Weinberg Partners by 460.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock valued at $100,000 after purchasing an additional 4,232 shares during the last quarter. Institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Company 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.