Perella Weinberg Partners (NASDAQ:PWP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Perella Weinberg Partners (NASDAQ:PWP) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other research firms have also issued reports on PWP. The Goldman Sachs Group boosted their price objective on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a “sell” rating in a research report on Thursday, May 15th. JMP Securities reduced their price objective on Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods cut their target price on Perella Weinberg Partners from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, May 12th.

Perella Weinberg Partners Trading Up 2.7%

Shares of PWP opened at $18.11 on Friday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -11.46 and a beta of 1.65. The stock has a 50 day moving average of $17.48 and a 200-day moving average of $20.91. Perella Weinberg Partners has a 52 week low of $13.98 and a 52 week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.07. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. The business had revenue of $211.83 million during the quarter, compared to analyst estimates of $200.29 million. During the same quarter in the previous year, the firm posted ($0.10) EPS.

Perella Weinberg Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Wednesday, May 14th. Perella Weinberg Partners’s dividend payout ratio is presently -65.12%.

Institutional Trading of Perella Weinberg Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC raised its stake in shares of Perella Weinberg Partners by 43.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company’s stock worth $37,000 after buying an additional 470 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Perella Weinberg Partners by 1.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,403 shares of the company’s stock worth $701,000 after purchasing an additional 518 shares during the period. US Bancorp DE raised its position in shares of Perella Weinberg Partners by 4.4% during the fourth quarter. US Bancorp DE now owns 17,602 shares of the company’s stock worth $420,000 after purchasing an additional 746 shares during the period. Ancora Advisors LLC raised its position in shares of Perella Weinberg Partners by 0.4% during the fourth quarter. Ancora Advisors LLC now owns 203,446 shares of the company’s stock worth $4,850,000 after purchasing an additional 830 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Perella Weinberg Partners by 1.2% during the fourth quarter. Rhumbline Advisers now owns 70,861 shares of the company’s stock worth $1,689,000 after purchasing an additional 854 shares during the period. Institutional investors 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.