Perella Weinberg Partners (NASDAQ:PWP – Get Free Report)’s share price traded down 7.6% on Wednesday . The company traded as low as $15.08 and last traded at $15.0770. 192,154 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,120,801 shares. The stock had previously closed at $16.31.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods cut their price target on Perella Weinberg Partners from $23.50 to $19.00 and set an “outperform” rating for the company in a research note on Friday. The Goldman Sachs Group set a $16.00 price objective on Perella Weinberg Partners in a report on Friday, June 12th. Finally, Citizens Jmp lowered their price objective on Perella Weinberg Partners from $32.00 to $30.00 and set a “market outperform” rating for the company in a research note on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Perella Weinberg Partners currently has a consensus rating of “Hold” and a consensus target price of $21.50.
Get Our Latest Analysis on PWP
Perella Weinberg Partners Stock Down 3.9%
Perella Weinberg Partners (NASDAQ:PWP – Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). The firm had revenue of $148.92 million during the quarter, compared to the consensus estimate of $158.82 million. Perella Weinberg Partners had a negative return on equity of 19.90% and a net margin of 2.82%.
Perella Weinberg Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. Perella Weinberg Partners’s dividend payout ratio (DPR) is currently 116.67%.
Insider Buying and Selling at Perella Weinberg Partners
In related news, CFO Alexandra Gottschalk sold 51,671 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $19.74, for a total transaction of $1,019,985.54. Following the completion of the sale, the chief financial officer owned 72,492 shares in the company, valued at approximately $1,430,992.08. This trade represents a 41.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 109,477 shares of company stock valued at $2,034,533. 26.10% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Perella Weinberg Partners
A number of hedge funds have recently modified their holdings of PWP. Los Angeles Capital Management LLC bought a new position in Perella Weinberg Partners during the fourth quarter valued at $45,000. Torren Management LLC purchased a new position in shares of Perella Weinberg Partners during the 4th quarter valued at $62,000. Kemnay Advisory Services Inc. purchased a new position in shares of Perella Weinberg Partners during the 4th quarter valued at $86,000. Tower Research Capital LLC TRC increased its holdings in Perella Weinberg Partners by 460.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock worth $100,000 after acquiring an additional 4,232 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Perella Weinberg Partners by 24.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock worth $124,000 after acquiring an additional 1,338 shares during the last quarter. Institutional investors own 41.07% of the company’s stock.
About Perella Weinberg Partners
Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.
The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.
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