Perella Weinberg Partners (NASDAQ:PWP) Reaches New 1-Year High – Here’s What Happened

Shares of Perella Weinberg Partners (NASDAQ:PWP) hit a new 52-week high during mid-day trading 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.

Wall Street Analysts Forecast Growth

PWP has been the subject of a number of recent research reports. JMP Securities increased their price objective on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods reduced their price target on Perella Weinberg Partners from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th.

Perella Weinberg Partners Stock Down 1.2 %

The firm’s 50 day moving average is $24.63 and its two-hundred day moving average is $21.35.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%. The company had revenue of $278.20 million during the quarter, compared to the consensus estimate of $196.42 million. During the same quarter last year, the firm posted $0.12 EPS. The company’s quarterly revenue was up 100.1% on a year-over-year basis.

Perella Weinberg Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, December 4th. This represents a $0.28 annualized dividend and a dividend yield of 1.08%. Perella Weinberg Partners’s dividend payout ratio is currently -11.81%.

Insider Buying and Selling

In related news, CEO Andrew Bednar sold 300,579 shares of Perella Weinberg Partners stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the completion of the sale, the chief executive officer now owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. The trade was a 34.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Dietrich Becker sold 442,889 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction 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. 43.53% of the stock is owned by insiders.

Institutional Investors Weigh In On Perella Weinberg Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in PWP. SG Americas Securities LLC increased its stake in Perella Weinberg Partners by 25.6% during the 4th quarter. SG Americas Securities LLC now owns 26,396 shares of the company’s stock worth $629,000 after acquiring an additional 5,374 shares during the period. Kings Path Partners LLC bought a new position in shares of Perella Weinberg Partners in the fourth quarter worth $535,000. JPMorgan Chase & Co. raised its stake in Perella Weinberg Partners by 49.4% in the third quarter. JPMorgan Chase & Co. now owns 435,922 shares of the company’s stock valued at $8,418,000 after purchasing an additional 144,222 shares in the last quarter. Geode Capital Management LLC lifted its position 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 purchasing an additional 34,301 shares during the period. Finally, Barclays PLC grew its stake in Perella Weinberg Partners by 0.8% during the third quarter. Barclays PLC now owns 186,387 shares of the company’s stock worth $3,600,000 after buying an additional 1,517 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

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.