Cannell & Spears LLC Takes Position in Perella Weinberg Partners (NASDAQ:PWP)

Cannell & Spears LLC purchased a new stake in shares of Perella Weinberg Partners (NASDAQ:PWP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 372,526 shares of the company’s stock, valued at approximately $8,881,000. Cannell & Spears LLC owned 0.42% of Perella Weinberg Partners as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Perella Weinberg Partners by 4.4% during the fourth quarter. US Bancorp DE now owns 17,602 shares of the company’s stock worth $420,000 after buying an additional 746 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Perella Weinberg Partners by 1.2% during the 4th quarter. Rhumbline Advisers now owns 70,861 shares of the company’s stock worth $1,689,000 after acquiring an additional 854 shares during the period. Swiss National Bank boosted its position in shares of Perella Weinberg Partners by 0.9% during the 4th quarter. Swiss National Bank now owns 100,000 shares of the company’s stock valued at $2,384,000 after acquiring an additional 900 shares in the last quarter. Barclays PLC increased its stake in Perella Weinberg Partners by 0.8% in the third quarter. Barclays PLC now owns 186,387 shares of the company’s stock valued at $3,600,000 after acquiring an additional 1,517 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in Perella Weinberg Partners in the fourth quarter worth about $64,000. Institutional investors and hedge funds own 41.07% of the company’s stock.

Perella Weinberg Partners Price Performance

Shares of PWP opened at $18.45 on Monday. The company has a market capitalization of $1.60 billion, a P/E ratio of -11.68 and a beta of 1.61. Perella Weinberg Partners has a one year low of $11.68 and a one year high of $27.03. The business’s 50 day simple moving average is $22.66 and its 200-day simple moving average is $22.70.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, February 7th. The company reported $0.26 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 announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.07 per share. 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 1.52%. Perella Weinberg Partners’s payout ratio is -17.72%.

Analyst Upgrades and Downgrades

PWP has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Perella Weinberg Partners from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. The Goldman Sachs Group dropped their price objective on Perella Weinberg Partners from $23.00 to $20.00 and set a “sell” rating for the company in a research note on Friday, March 14th.

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.