Perella Weinberg Partners (NASDAQ:PWP) Reaches New 1-Year High – Still a Buy?

Shares of Perella Weinberg Partners (NASDAQ:PWP) reached a new 52-week high on Wednesday . The stock traded as high as $27.03 and last traded at $26.41, with a volume of 64796 shares trading hands. The stock had previously closed at $26.41.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PWP. Keefe, Bruyette & Woods reduced their price objective on shares of Perella Weinberg Partners from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. JMP Securities upped their price objective on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th.

Perella Weinberg Partners Stock Up 0.2 %

The company has a market capitalization of $2.33 billion, a P/E ratio of -11.17 and a beta of 1.58. The firm has a 50-day moving average price of $24.60 and a two-hundred day moving average price of $21.29.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. The firm had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $196.42 million. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. Perella Weinberg Partners’s quarterly revenue was up 100.1% compared to the same quarter last year. During the same period last year, the business earned $0.12 earnings per share.

Perella Weinberg Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio (DPR) is currently -11.81%.

Insider Buying and Selling at Perella Weinberg Partners

In other Perella Weinberg Partners news, CEO Andrew Bednar sold 300,579 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total value of $7,358,173.92. Following the transaction, the chief executive officer now directly owns 566,386 shares of the company’s stock, valued at $13,865,129.28. This represents a 34.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Dietrich Becker sold 442,889 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the completion of the transaction, the president now directly owns 379,140 shares in the company, valued at approximately $9,281,347.20. This represents a 53.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 43.53% of the company’s stock.

Institutional Trading of Perella Weinberg Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Azora Capital LP increased its stake in shares of Perella Weinberg Partners by 4.8% in the third quarter. Azora Capital LP now owns 2,411,042 shares of the company’s stock valued at $46,557,000 after buying an additional 110,370 shares during the period. Millennium Management LLC boosted its holdings in Perella Weinberg Partners by 2,883.9% in the second quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock worth $28,012,000 after acquiring an additional 1,666,015 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of Perella Weinberg Partners by 13.3% in the third quarter. Wasatch Advisors LP now owns 1,483,429 shares of the company’s stock valued at $28,645,000 after purchasing an additional 174,445 shares in the last quarter. State Street Corp lifted its holdings in shares of Perella Weinberg Partners by 4.5% in the third quarter. State Street Corp now owns 1,379,418 shares of the company’s stock valued at $26,637,000 after purchasing an additional 59,989 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Perella Weinberg Partners by 2.8% during the third quarter. Geode Capital Management LLC now owns 1,257,620 shares of the company’s stock worth $24,289,000 after acquiring an additional 34,301 shares during the period. 41.07% of the stock is currently 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.