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 during mid-day trading on Wednesday . The company 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JMP Securities raised their price target on 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 decreased their target price on Perella Weinberg Partners from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th.

Perella Weinberg Partners Price Performance

The company has a 50-day moving average of $24.60 and a 200 day moving average of $21.29. The company has a market cap of $2.33 billion, a PE ratio of -11.17 and a beta of 1.58.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly 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. The firm had revenue of $278.20 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 earnings per share.

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 paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio (DPR) is -11.81%.

Insider Buying and Selling

In other news, CEO Andrew Bednar sold 300,579 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 566,386 shares of the company’s stock, valued at $13,865,129.28. The trade was a 34.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Dietrich Becker sold 442,889 shares of the business’s stock in a transaction on 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 sale, the president now directly owns 379,140 shares in the company, valued at $9,281,347.20. This trade 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 currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Interval Partners LP boosted its position in shares of Perella Weinberg Partners by 142.9% during the 2nd quarter. Interval Partners LP now owns 225,026 shares of the company’s stock worth $3,657,000 after purchasing an additional 132,389 shares during the period. Wescott Financial Advisory Group LLC acquired a new position in Perella Weinberg Partners in the second quarter valued at $1,509,000. Millennium Management LLC boosted its holdings in shares of 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 valued at $28,012,000 after acquiring an additional 1,666,015 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Perella Weinberg Partners by 30.4% in the second quarter. The Manufacturers Life Insurance Company now owns 20,167 shares of the company’s stock valued at $328,000 after acquiring an additional 4,697 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Perella Weinberg Partners by 18.9% during the second quarter. Algert Global LLC now owns 148,025 shares of the company’s stock worth $2,405,000 after buying an additional 23,540 shares in the last quarter. Institutional investors and hedge funds 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.