Perella Weinberg Partners (NASDAQ:PWP) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Perella Weinberg Partners (NASDAQ:PWP) saw unusually-high trading volume on Tuesday . Approximately 633,018 shares were traded during trading, an increase of 52% from the previous session’s volume of 416,411 shares.The stock last traded at $25.44 and had previously closed at $25.48.

Analyst Upgrades and Downgrades

Separately, JMP Securities lifted 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.

Perella Weinberg Partners Trading Down 2.6 %

The company’s fifty day moving average price is $20.28 and its two-hundred day moving average price is $17.88. The firm has a market cap of $2.13 billion, a P/E ratio of -10.75 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The company had revenue of $278.20 million for the quarter, compared to the consensus estimate of $196.42 million. During the same period in the prior year, the company posted $0.12 EPS. The company’s revenue was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 1.13%. Perella Weinberg Partners’s payout ratio is -11.81%.

Hedge Funds Weigh In On Perella Weinberg Partners

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Perella Weinberg Partners by 6.7% in the first quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock valued at $35,212,000 after buying an additional 155,855 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Perella Weinberg Partners by 17.5% during the first quarter. Russell Investments Group Ltd. now owns 1,114,240 shares of the company’s stock worth $15,744,000 after buying an additional 166,168 shares in the last quarter. Janus Henderson Group PLC grew its stake in Perella Weinberg Partners by 160.3% during the first quarter. Janus Henderson Group PLC now owns 90,715 shares of the company’s stock worth $1,280,000 after buying an additional 55,862 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in Perella Weinberg Partners during the second quarter worth about $35,715,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Perella Weinberg Partners by 21.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 354,326 shares of the company’s stock worth $5,007,000 after acquiring an additional 61,975 shares during the last quarter. 41.07% of the stock is 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.