Perella Weinberg Partners (NASDAQ:PWP) Price Target Raised to $19.00

Perella Weinberg Partners (NASDAQ:PWP) had its price objective raised by Keefe, Bruyette & Woods from $18.00 to $19.00 in a report published on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Separately, JMP Securities raised their price target on Perella Weinberg Partners from $18.00 to $22.00 and gave the company a market outperform rating in a report on Tuesday, April 9th.

Perella Weinberg Partners Price Performance

Shares of Perella Weinberg Partners stock opened at $17.86 on Friday. The business has a fifty day simple moving average of $15.28 and a two-hundred day simple moving average of $13.99. Perella Weinberg Partners has a 1 year low of $9.05 and a 1 year high of $18.23. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -9.60 and a beta of 1.50.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, May 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter. Perella Weinberg Partners had a negative net margin of 7.74% and a positive return on equity of 17.87%. The business had revenue of $102.13 million for the quarter.

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, May 24th. Perella Weinberg Partners’s dividend payout ratio is currently -15.05%.

Institutional Investors Weigh In On Perella Weinberg Partners

A number of hedge funds and other institutional investors have recently modified their holdings of PWP. Wasatch Advisors LP increased its position in shares of Perella Weinberg Partners by 113.0% in the first quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock worth $20,384,000 after purchasing an additional 765,461 shares during the period. Basswood Capital Management L.L.C. increased its position in shares of Perella Weinberg Partners by 18.4% in the fourth quarter. Basswood Capital Management L.L.C. now owns 841,307 shares of the company’s stock worth $10,289,000 after purchasing an additional 130,682 shares during the period. Trexquant Investment LP bought a new position in shares of Perella Weinberg Partners in the fourth quarter worth $608,000. SG Americas Securities LLC bought a new position in shares of Perella Weinberg Partners in the fourth quarter worth $137,000. Finally, First Eagle Investment Management LLC increased its position in shares of Perella Weinberg Partners by 34.1% in the fourth quarter. First Eagle Investment Management LLC now owns 249,878 shares of the company’s stock worth $3,056,000 after purchasing an additional 63,575 shares during the period. 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.