Wescott Financial Advisory Group LLC Reduces Holdings in Perella Weinberg Partners (NASDAQ:PWP)

Wescott Financial Advisory Group LLC lowered its stake in Perella Weinberg Partners (NASDAQ:PWP) by 28.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,010 shares of the company’s stock after selling 9,929 shares during the quarter. Wescott Financial Advisory Group LLC’s holdings in Perella Weinberg Partners were worth $596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new position in shares of Perella Weinberg Partners in the fourth quarter valued at about $64,000. Meeder Asset Management Inc. bought a new position in Perella Weinberg Partners during the 4th quarter valued at approximately $179,000. Intech Investment Management LLC purchased a new stake in Perella Weinberg Partners in the 3rd quarter worth approximately $197,000. PDT Partners LLC bought a new stake in shares of Perella Weinberg Partners in the 3rd quarter worth approximately $210,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Perella Weinberg Partners during the third quarter valued at approximately $214,000. Institutional investors own 41.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. The Goldman Sachs Group dropped their price target on Perella Weinberg Partners from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th.

Perella Weinberg Partners Stock Down 12.8 %

PWP opened at $16.98 on Friday. Perella Weinberg Partners has a 52 week low of $11.68 and a 52 week high of $27.03. The stock has a market cap of $1.47 billion, a PE ratio of -10.75 and a beta of 1.61. The business has a 50 day moving average of $22.05 and a 200-day moving average of $22.63.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%.

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners’s payout ratio is currently -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.