Perella Weinberg Partners (NASDAQ:PWP) Given New $18.00 Price Target at The Goldman Sachs Group

Perella Weinberg Partners (NASDAQ:PWP) had its price objective reduced by The Goldman Sachs Group from $20.00 to $18.00 in a research note released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

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

Perella Weinberg Partners Stock Performance

PWP opened at $19.48 on Wednesday. The stock has a fifty day moving average of $22.22 and a 200-day moving average of $22.67. The company has a market capitalization of $1.69 billion, a P/E ratio of -12.33 and a beta of 1.61. Perella Weinberg Partners has a fifty-two week low of $11.68 and a fifty-two week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings data on Friday, February 7th. The company reported $0.26 earnings per share 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 company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners’s payout ratio is presently -17.72%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new stake in Perella Weinberg Partners in the third quarter valued at about $197,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Perella Weinberg Partners by 197.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock valued at $8,381,000 after purchasing an additional 288,186 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Perella Weinberg Partners during the 3rd quarter valued at approximately $333,000. PDT Partners LLC acquired a new position in Perella Weinberg Partners during the 3rd quarter worth approximately $210,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Perella Weinberg Partners by 175.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 570,719 shares of the company’s stock valued at $11,021,000 after purchasing an additional 363,331 shares during the last quarter. 41.07% of the stock is owned by institutional investors.

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.