Perella Weinberg Partners (NASDAQ:PWP) Shares Gap Down – Here’s What Happened

Perella Weinberg Partners (NASDAQ:PWP)’s share price gapped down prior to trading on Friday . The stock had previously closed at $21.00, but opened at $20.18. Perella Weinberg Partners shares last traded at $20.2620, with a volume of 27,581 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PWP shares. Wall Street Zen raised Perella Weinberg Partners from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Keefe, Bruyette & Woods increased their price target on shares of Perella Weinberg Partners from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Perella Weinberg Partners in a research report on Thursday, January 22nd. The Goldman Sachs Group increased their target price on shares of Perella Weinberg Partners from $19.00 to $21.50 and gave the stock a “sell” rating in a report on Monday, February 9th. Finally, Wolfe Research set a $21.00 price target on Perella Weinberg Partners in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.63.

Perella Weinberg Partners Stock Performance

The company has a 50-day simple moving average of $20.15 and a two-hundred day simple moving average of $20.25. The firm has a market capitalization of $1.79 billion, a P/E ratio of 43.90 and a beta of 1.64.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $219.16 million for the quarter, compared to analysts’ expectations of $192.84 million. Perella Weinberg Partners had a negative return on equity of 21.97% and a net margin of 4.69%.

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Tuesday, February 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, February 17th. Perella Weinberg Partners’s dividend payout ratio is 60.87%.

Institutional Trading of Perella Weinberg Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in Perella Weinberg Partners by 3.4% during the third quarter. Arizona State Retirement System now owns 17,814 shares of the company’s stock valued at $380,000 after buying an additional 583 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of Perella Weinberg Partners by 1.2% in the 4th quarter. Kennedy Capital Management LLC now owns 57,646 shares of the company’s stock worth $997,000 after purchasing an additional 660 shares during the last quarter. ProShare Advisors LLC boosted its stake in Perella Weinberg Partners by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock worth $197,000 after purchasing an additional 733 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Perella Weinberg Partners by 16.6% in the 3rd quarter. New York State Teachers Retirement System now owns 5,510 shares of the company’s stock worth $117,000 after purchasing an additional 786 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Perella Weinberg Partners by 10.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 10,138 shares of the company’s stock valued at $175,000 after purchasing an additional 997 shares during the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

About Perella Weinberg Partners

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.