Balyasny Asset Management L.P. Has $4.76 Million Position in Perella Weinberg Partners (NASDAQ:PWP)

Balyasny Asset Management L.P. trimmed its position in shares of Perella Weinberg Partners (NASDAQ:PWP) by 52.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 199,723 shares of the company’s stock after selling 219,465 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.23% of Perella Weinberg Partners worth $4,761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Perella Weinberg Partners during the 4th quarter worth approximately $18,493,000. Channing Capital Management LLC acquired a new stake in Perella Weinberg Partners in the fourth quarter valued at $16,207,000. Franklin Resources Inc. bought a new position in Perella Weinberg Partners during the 4th quarter worth $13,586,000. Walleye Capital LLC bought a new stake in shares of Perella Weinberg Partners in the 4th quarter valued at about $10,307,000. Finally, Cannell & Spears LLC acquired a new stake in shares of Perella Weinberg Partners in the fourth quarter valued at about $8,881,000. 41.07% of the stock is currently owned by institutional investors.

Perella Weinberg Partners Stock Up 1.3 %

Perella Weinberg Partners stock opened at $17.68 on Friday. The company has a market capitalization of $1.53 billion, a PE ratio of -11.19 and a beta of 1.69. The firm’s fifty day moving average is $17.79 and its 200 day moving average is $21.91. Perella Weinberg Partners has a 12-month low of $13.82 and a 12-month high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.21 by $0.07. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. The company had revenue of $211.83 million during the quarter, compared to the consensus estimate of $200.29 million. During the same period last year, the business posted ($0.10) EPS.

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Wednesday, May 14th. Perella Weinberg Partners’s payout ratio is -65.12%.

Wall Street Analyst Weigh In

PWP has been the topic of several analyst reports. The Goldman Sachs Group reduced their target price on Perella Weinberg Partners from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Wednesday, April 2nd. JMP Securities lowered their target price on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods upped 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 report on Monday, February 10th.

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.