The Goldman Sachs Group Cuts Perella Weinberg Partners (NASDAQ:PWP) Price Target to $18.00

Perella Weinberg Partners (NASDAQ:PWP) had its target price trimmed by The Goldman Sachs Group from $20.00 to $18.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a sell rating on the stock.

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

Perella Weinberg Partners Stock Down 6.4 %

PWP opened at $15.89 on Wednesday. The business has a fifty day moving average of $21.84 and a 200 day moving average of $22.62. The stock has a market cap of $1.38 billion, a P/E ratio of -10.06 and a beta of 1.61. 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 posted its quarterly earnings results on Friday, February 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners’s payout ratio is -17.72%.

Institutional Investors Weigh In On Perella Weinberg Partners

Several large investors have recently modified their holdings of the business. Versant Capital Management Inc purchased a new position in Perella Weinberg Partners during the first quarter valued at approximately $32,000. Quadrant Capital Group LLC increased its holdings in shares of Perella Weinberg Partners by 43.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company’s stock valued at $37,000 after acquiring an additional 470 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Perella Weinberg Partners in the 4th quarter worth $64,000. Meeder Asset Management Inc. purchased a new stake in shares of Perella Weinberg Partners during the 4th quarter worth $179,000. Finally, Intech Investment Management LLC bought a new stake in Perella Weinberg Partners during the third quarter valued at about $197,000. Institutional investors 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.