Perella Weinberg Partners (NASDAQ:PWP) Stock Rating Reaffirmed by JMP Securities

JMP Securities restated their market outperform rating on shares of Perella Weinberg Partners (NASDAQ:PWP) in a research note issued to investors on Monday morning, Benzinga reports. JMP Securities currently has a $22.00 price objective on the stock.

Separately, Keefe, Bruyette & Woods lifted their price objective on Perella Weinberg Partners from $18.00 to $19.00 and gave the company an outperform rating in a research note on Friday, July 12th.

Perella Weinberg Partners Stock Up 3.0 %

NASDAQ:PWP opened at $17.12 on Monday. The company has a market cap of $1.61 billion, a P/E ratio of -9.20 and a beta of 1.50. The firm’s 50 day moving average is $16.29 and its two-hundred day moving average is $14.81. Perella Weinberg Partners has a fifty-two week low of $9.30 and a fifty-two week high of $19.52.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, August 2nd. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.26. Perella Weinberg Partners had a positive return on equity of 17.87% and a negative net margin of 7.74%. The business had revenue of $272.00 million for the quarter, compared to analyst estimates of $179.35 million. During the same period last year, the company posted $0.16 EPS. The business’s quarterly revenue was up 64.3% on a year-over-year basis.

Perella Weinberg Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, September 5th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.28 dividend on an annualized basis and a yield of 1.64%. Perella Weinberg Partners’s dividend payout ratio (DPR) is -15.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PWP. Wasatch Advisors LP boosted its stake 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 valued at $20,384,000 after purchasing an additional 765,461 shares during the period. Russell Investments Group Ltd. lifted its holdings in Perella Weinberg Partners by 17.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,114,240 shares of the company’s stock worth $15,744,000 after buying an additional 166,168 shares in the last quarter. Basswood Capital Management L.L.C. boosted its position in Perella Weinberg Partners by 18.4% in the 4th quarter. Basswood Capital Management L.L.C. now owns 841,307 shares of the company’s stock valued at $10,289,000 after buying an additional 130,682 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Perella Weinberg Partners by 160.3% during the first quarter. Janus Henderson Group PLC now owns 90,715 shares of the company’s stock valued at $1,280,000 after acquiring an additional 55,862 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Perella Weinberg Partners by 21.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 354,326 shares of the company’s stock worth $5,007,000 after acquiring an additional 61,975 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, 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.