The Goldman Sachs Group Cuts Perella Weinberg Partners (NASDAQ:PWP) Price Target to $20.00

Perella Weinberg Partners (NASDAQ:PWP) had its price target lowered by The Goldman Sachs Group from $23.00 to $20.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a sell rating on the stock.

Separately, Keefe, Bruyette & Woods increased their price target on shares of 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

Perella Weinberg Partners stock opened at $19.48 on Friday. Perella Weinberg Partners has a fifty-two week low of $11.68 and a fifty-two week high of $27.03. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -12.33 and a beta of 1.61. The stock’s 50 day simple moving average is $23.46 and its two-hundred day simple moving average is $22.63.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results 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 net margin of 7.37% and a negative return on equity of 72.27%.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Tuesday, February 18th. Perella Weinberg Partners’s payout ratio is -17.72%.

Hedge Funds Weigh In On Perella Weinberg Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC grew its position in Perella Weinberg Partners by 43.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company’s stock valued at $37,000 after purchasing an additional 470 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Perella Weinberg Partners in the fourth quarter worth approximately $64,000. Meeder Asset Management Inc. purchased a new stake in shares of Perella Weinberg Partners during the fourth quarter valued at approximately $179,000. Intech Investment Management LLC bought a new stake in shares of Perella Weinberg Partners during the third quarter valued at approximately $197,000. Finally, PDT Partners LLC purchased a new position in Perella Weinberg Partners in the 3rd quarter worth approximately $210,000. 41.07% of the stock is currently owned by institutional investors.

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.