Perella Weinberg Partners (NASDAQ:PWP) Sees Strong Trading Volume

Perella Weinberg Partners (NASDAQ:PWP) shares saw strong trading volume on Friday . 490,529 shares traded hands during trading, an increase of 50% from the previous session’s volume of 327,953 shares.The stock last traded at $15.68 and had previously closed at $15.61.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a “sell” rating and set a $11.50 price target (down from $14.00) on shares of Perella Weinberg Partners in a research note on Tuesday, January 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $16.00 price objective on shares of Perella Weinberg Partners in a report on Monday, January 29th. Finally, JMP Securities increased their price objective on shares of Perella Weinberg Partners from $18.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th.

Perella Weinberg Partners Price Performance

The company’s 50-day simple moving average is $14.17 and its 200-day simple moving average is $12.28.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.08 earnings per share for the quarter. Perella Weinberg Partners had a negative net margin of 2.66% and a positive return on equity of 34.39%. The business had revenue of $212.68 million during the quarter.

Perella Weinberg Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Tuesday, February 27th. Perella Weinberg Partners’s payout ratio is currently -21.21%.

Hedge Funds Weigh In On Perella Weinberg Partners

Hedge funds have recently added to or reduced their stakes in the business. Simplicity Solutions LLC lifted its stake in Perella Weinberg Partners by 38.4% in the third quarter. Simplicity Solutions LLC now owns 16,136 shares of the company’s stock valued at $164,000 after buying an additional 4,474 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Perella Weinberg Partners by 1.8% in the third quarter. Bank of New York Mellon Corp now owns 172,235 shares of the company’s stock valued at $1,753,000 after buying an additional 3,002 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Perella Weinberg Partners by 31.9% in the third quarter. Principal Financial Group Inc. now owns 19,034 shares of the company’s stock valued at $194,000 after buying an additional 4,607 shares during the last quarter. Barclays PLC lifted its stake in Perella Weinberg Partners by 17.6% in the third quarter. Barclays PLC now owns 61,411 shares of the company’s stock valued at $625,000 after buying an additional 9,185 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Perella Weinberg Partners in the third quarter valued at $62,000. 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.