Perella Weinberg Partners (NASDAQ:PWP) Lowered to “Sell” Rating by 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 report report published on Saturday.

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

Perella Weinberg Partners Price Performance

Shares of PWP remained flat at $18.70 during mid-day trading on Friday. The stock had a trading volume of 847,936 shares, compared to its average volume of 1,128,586. The stock has a 50 day simple moving average of $20.33 and a 200 day simple moving average of $19.95. The company has a market capitalization of $1.66 billion, a PE ratio of 28.33 and a beta of 1.63. Perella Weinberg Partners has a 52 week low of $14.12 and a 52 week high of $27.03.

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

Perella Weinberg Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, November 17th. Perella Weinberg Partners’s dividend payout ratio is 42.42%.

Institutional Investors Weigh In On Perella Weinberg Partners

A number of hedge funds have recently added to or reduced their stakes in PWP. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Perella Weinberg Partners during the first quarter worth approximately $40,000. State of Alaska Department of Revenue bought a new stake in Perella Weinberg Partners during the 3rd quarter valued at $53,000. CWM LLC raised its holdings in Perella Weinberg Partners by 162.4% during the second quarter. CWM LLC now owns 3,936 shares of the company’s stock worth $76,000 after buying an additional 2,436 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of Perella Weinberg Partners in the second quarter valued at $92,000. Finally, Tower Research Capital LLC TRC lifted its stake 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 buying an additional 4,232 shares in the last quarter. 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.