The Goldman Sachs Group Lowers Perella Weinberg Partners (NASDAQ:PWP) Price Target to $20.00

Perella Weinberg Partners (NASDAQ:PWP) had its price target trimmed by The Goldman Sachs Group from $23.00 to $20.00 in a research note published on Friday,Benzinga reports. The firm currently has a sell rating on the stock.

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, February 10th.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ:PWP opened at $19.48 on Friday. The stock’s 50-day simple moving average is $23.46 and its two-hundred day simple moving average is $22.63. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -12.33 and a beta of 1.61. Perella Weinberg Partners has a 52-week low of $11.68 and a 52-week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%.

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.44%. The ex-dividend date was Tuesday, February 18th. Perella Weinberg Partners’s dividend payout ratio is -17.72%.

Hedge Funds Weigh In On Perella Weinberg Partners

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