Perella Weinberg Partners (NASDAQ:PWP) Hits New 12-Month High – Still a Buy?

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

Analyst Ratings Changes

A number of analysts have recently commented on PWP shares. Keefe, Bruyette & Woods dropped their price objective on Perella Weinberg Partners from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. JMP Securities upped their price target on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th.

Perella Weinberg Partners Stock Performance

The company has a fifty day moving average price of $24.63 and a 200-day moving average price of $21.35.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, topping 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 firm had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $196.42 million. During the same quarter last year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Dividend Announcement

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

Insider Transactions at Perella Weinberg Partners

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PWP. Millennium Management LLC boosted its stake in Perella Weinberg Partners by 2,883.9% in the 2nd quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock worth $28,012,000 after purchasing an additional 1,666,015 shares during the period. Wellington Management Group LLP boosted its position in shares of Perella Weinberg Partners by 200.0% during the third quarter. Wellington Management Group LLP now owns 1,157,605 shares of the company’s stock worth $22,353,000 after buying an additional 771,736 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Perella Weinberg Partners by 175.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 570,719 shares of the company’s stock worth $11,021,000 after buying an additional 363,331 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Perella Weinberg Partners by 197.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock valued at $8,381,000 after buying an additional 288,186 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in Perella Weinberg Partners by 32.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 756,540 shares of the company’s stock valued at $14,609,000 after acquiring an additional 183,905 shares in the last quarter. Institutional investors own 41.07% of the company’s stock.

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.