Perella Weinberg Partners (NASDAQ:PWP) Shares Gap Down to $15.04

Shares of Perella Weinberg Partners (NASDAQ:PWP) gapped down prior to trading on Friday . The stock had previously closed at $15.04, but opened at $12.75. Perella Weinberg Partners shares last traded at $13.71, with a volume of 550,975 shares traded.

Wall Street Analysts Forecast Growth

PWP has been the subject of several research analyst reports. The Goldman Sachs Group reaffirmed a “sell” rating and set a $11.50 price target (down previously from $14.00) on shares of Perella Weinberg Partners in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $16.00 price target on shares of Perella Weinberg Partners in a research report on Monday, January 29th. Finally, JMP Securities lifted their price objective on Perella Weinberg Partners from $18.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th.

Perella Weinberg Partners Stock Down 2.1 %

The business’s 50 day moving average is $14.40 and its 200 day moving average is $12.50. The company has a market cap of $1.27 billion, a P/E ratio of -11.15 and a beta of 1.52.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $212.68 million for the quarter. Perella Weinberg Partners had a positive return on equity of 34.39% and a negative net margin of 2.66%.

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $0.28 dividend on an annualized basis and a yield of 1.90%. Perella Weinberg Partners’s payout ratio is -21.21%.

Institutional Trading of Perella Weinberg Partners

Institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in shares of Perella Weinberg Partners by 27.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock valued at $215,000 after purchasing an additional 3,237 shares during the last quarter. Simplicity Wealth LLC purchased a new position in shares of Perella Weinberg Partners in the first quarter worth about $318,000. Wasatch Advisors LP lifted its holdings in shares of Perella Weinberg Partners by 113.0% during the first quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock worth $20,384,000 after purchasing an additional 765,461 shares during the period. Quadrature Capital Ltd purchased a new stake in Perella Weinberg Partners in the fourth quarter valued at approximately $165,000. Finally, Azora Capital LP increased its holdings in Perella Weinberg Partners by 55.4% in the 4th quarter. Azora Capital LP now owns 426,963 shares of the company’s stock worth $5,222,000 after buying an additional 152,270 shares during the period. Institutional investors and hedge funds own 41.07% of the company’s stock.

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.