Arrowstreet Capital Limited Partnership Cuts Stock Position in Perella Weinberg Partners (NASDAQ:PWP)

Arrowstreet Capital Limited Partnership lessened its position in Perella Weinberg Partners (NASDAQ:PWP) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,430 shares of the company’s stock after selling 14,095 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.18% of Perella Weinberg Partners worth $3,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Perella Weinberg Partners in the 4th quarter valued at $18,493,000. Wellington Management Group LLP boosted its holdings in Perella Weinberg Partners by 200.0% in the third quarter. Wellington Management Group LLP now owns 1,157,605 shares of the company’s stock valued at $22,353,000 after purchasing an additional 771,736 shares in the last quarter. Channing Capital Management LLC acquired a new stake in Perella Weinberg Partners during the 4th quarter worth $16,207,000. Charles Schwab Investment Management Inc. lifted its position in Perella Weinberg Partners by 197.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock valued at $8,381,000 after acquiring an additional 288,186 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Perella Weinberg Partners by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company’s stock valued at $75,426,000 after acquiring an additional 260,319 shares during the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Stock Down 3.8 %

Shares of NASDAQ:PWP opened at $15.50 on Wednesday. The company has a 50-day moving average price of $21.26 and a 200 day moving average price of $22.57. The company has a market cap of $1.35 billion, a P/E ratio of -9.81 and a beta of 1.68. 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 released its quarterly earnings results on Friday, February 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.81%. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -17.72%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PWP shares. The Goldman Sachs Group cut their target price on Perella Weinberg Partners from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Wednesday, April 2nd. JMP Securities cut their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Tuesday. Finally, Keefe, Bruyette & Woods increased their price objective on Perella Weinberg Partners from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, February 10th.

Perella Weinberg Partners Company Profile

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.