Perella Weinberg Partners (NASDAQ:PWP) Stock Price Down 4.8% – Here’s Why

Perella Weinberg Partners (NASDAQ:PWP) shares were down 4.8% on Thursday . The stock traded as low as $19.09 and last traded at $18.89. Approximately 115,801 shares traded hands during trading, a decline of 78% from the average daily volume of 536,075 shares. The stock had previously closed at $19.85.

Wall Street Analysts Forecast Growth

PWP has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted 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. The Goldman Sachs Group lowered their price target on Perella Weinberg Partners from $23.00 to $20.00 and set a “sell” rating on the stock in a report on Friday, March 14th.

Perella Weinberg Partners Stock Performance

The stock’s 50-day simple moving average is $22.66 and its two-hundred day simple moving average is $22.63. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -11.68 and a beta of 1.61.

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

Perella Weinberg Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were given a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.28 annualized dividend and a dividend yield of 1.52%. Perella Weinberg Partners’s dividend payout ratio is -17.72%.

Institutional Investors Weigh In On Perella Weinberg Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Perella Weinberg Partners by 49.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 435,922 shares of the company’s stock worth $8,418,000 after purchasing an additional 144,222 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Perella Weinberg Partners by 197.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock valued at $8,381,000 after acquiring an additional 288,186 shares during the period. Geode Capital Management LLC raised its holdings in Perella Weinberg Partners by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,257,620 shares of the company’s stock valued at $24,289,000 after acquiring an additional 34,301 shares in the last quarter. Kings Path Partners LLC bought a new stake in shares of Perella Weinberg Partners in the 4th quarter worth approximately $535,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Perella Weinberg Partners during the 3rd quarter worth approximately $389,000. 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.