Perella Weinberg Partners (NASDAQ:PWP) Price Target Lowered to $18.50 at The Goldman Sachs Group

Perella Weinberg Partners (NASDAQ:PWP) had its price objective cut by The Goldman Sachs Group from $21.50 to $18.50 in a report published on Thursday morning,Benzinga reports. They currently have a sell rating on the stock.

A number of other analysts have also issued reports on the stock. Wolfe Research set a $21.00 price target on shares of Perella Weinberg Partners in a research note on Wednesday, January 7th. Wall Street Zen raised shares of Perella Weinberg Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Keefe, Bruyette & Woods raised their price objective on shares of Perella Weinberg Partners from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, February 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.88.

Perella Weinberg Partners Stock Performance

Shares of PWP opened at $16.03 on Thursday. Perella Weinberg Partners has a one year low of $14.12 and a one year high of $25.92. The stock has a 50-day moving average price of $20.37 and a 200 day moving average price of $19.86. The company has a market capitalization of $1.42 billion, a P/E ratio of 34.85 and a beta of 1.69.

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 the consensus estimate of $0.17. The company had revenue of $219.16 million for the quarter, compared to the consensus estimate of $192.84 million. Perella Weinberg Partners had a negative return on equity of 25.81% and a net margin of 4.69%.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Tuesday, February 17th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, February 17th. Perella Weinberg Partners’s dividend payout ratio is currently 60.87%.

Hedge Funds Weigh In On Perella Weinberg Partners

Hedge funds have recently added to or reduced their stakes in the business. Emerald Advisers LLC lifted its position in shares of Perella Weinberg Partners by 41.4% in the 3rd quarter. Emerald Advisers LLC now owns 803,654 shares of the company’s stock worth $17,134,000 after buying an additional 235,448 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Perella Weinberg Partners during the 2nd quarter valued at about $28,019,000. Calamos Advisors LLC acquired a new stake in Perella Weinberg Partners during the third quarter worth about $1,696,000. Walleye Capital LLC raised its stake in Perella Weinberg Partners by 82.7% during the second quarter. Walleye Capital LLC now owns 1,372,866 shares of the company’s stock worth $26,661,000 after acquiring an additional 621,570 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in Perella Weinberg Partners by 15.2% in the third quarter. First Eagle Investment Management LLC now owns 467,792 shares of the company’s stock worth $9,973,000 after acquiring an additional 61,714 shares during the last quarter. Institutional investors and hedge funds 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.