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

Perella Weinberg Partners (NASDAQ:PWP) shares 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.

Analyst Ratings Changes

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

Perella Weinberg Partners Stock Performance

The stock’s 50 day simple moving average is $20.15 and its 200 day simple moving average is $20.25. The firm has a market cap of $1.79 billion, a PE ratio of 43.90 and a beta of 1.64.

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

Perella Weinberg Partners Announces Dividend

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

Institutional Trading of Perella Weinberg Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in shares of Perella Weinberg Partners during the fourth quarter worth approximately $45,000. State of Alaska Department of Revenue purchased a new position in Perella Weinberg Partners in the 3rd quarter worth $53,000. Torren Management LLC bought a new stake in Perella Weinberg Partners in the fourth quarter worth $62,000. CWM LLC increased its holdings in shares of Perella Weinberg Partners by 162.4% in 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 period. Finally, New York State Teachers Retirement System bought a new stake in shares of Perella Weinberg Partners in the 2nd quarter valued at about $92,000. 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.