Perella Weinberg Partners (NASDAQ:PWP) Sets New 12-Month Low – Here’s What Happened

Shares of Perella Weinberg Partners (NASDAQ:PWP) reached a new 52-week low during trading on Monday . The stock traded as low as $14.06 and last traded at $14.0610, with a volume of 453543 shares trading hands. The stock had previously closed at $14.79.

Analyst Ratings Changes

Several research analysts recently issued reports on PWP shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $21.00 target price (up from $19.00) on shares of Perella Weinberg Partners in a report on Monday, August 3rd. Weiss Ratings downgraded Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Wall Street Zen upgraded Perella Weinberg Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Finally, The Goldman Sachs Group boosted their price objective on Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Perella Weinberg Partners presently has a consensus rating of “Hold” and an average target price of $22.00.

Perella Weinberg Partners Stock Performance

The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 54.30 and a beta of 1.62. The business’s 50 day moving average price is $16.32 and its 200 day moving average price is $17.39.

Perella Weinberg Partners (NASDAQ:PWP) last posted its earnings results on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.14. Perella Weinberg Partners had a net margin of 3.19% and a negative return on equity of 35.84%. The firm had revenue of $156.53 million during the quarter, compared to analysts’ expectations of $144.76 million.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 28th were given a $0.07 dividend. The ex-dividend date was Friday, August 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. Perella Weinberg Partners’s dividend payout ratio is 107.69%.

Insider Activity

In other news, CEO Andrew Bednar sold 77,753 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $17.41, for a total transaction of $1,353,679.73. Following the sale, the chief executive officer directly owned 1,061,260 shares in the company, valued at $18,476,536.60. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 235,697 shares of company stock worth $4,080,379. Corporate insiders own 26.10% of the company’s stock.

Hedge Funds Weigh In On Perella Weinberg Partners

Large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new position in Perella Weinberg Partners during the fourth quarter worth approximately $45,000. Allworth Financial LP grew its holdings in Perella Weinberg Partners by 328.8% in the second quarter. Allworth Financial LP now owns 3,143 shares of the company’s stock valued at $50,000 after purchasing an additional 2,410 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of Perella Weinberg Partners in the fourth quarter valued at approximately $86,000. Tower Research Capital LLC TRC increased its position in shares of Perella Weinberg Partners by 460.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock valued at $100,000 after buying an additional 4,232 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Perella Weinberg Partners by 24.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock worth $124,000 after buying an additional 1,338 shares during the period. Institutional investors and hedge funds own 41.07% of the company’s stock.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners (NASDAQ:PWP) is an independent global advisory firm that provides strategic and financial advice to corporations, financial sponsors, institutions and other organizations. The firm focuses on complex transactions and business situations where clients require specialized expertise and objective advice.

Its principal services include mergers and acquisitions, divestitures, restructuring and liability management, capital structure and financing advice, and other strategic matters.