Perella Weinberg Partners (NASDAQ:PWP) Sets New 52-Week Low – Here’s What Happened

Perella Weinberg Partners (NASDAQ:PWP – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $12.46 and last traded at $13.18, with a volume of 54,919 shares changing hands. The stock had previously closed at $12.66.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Monday, August 3rd. 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 research report on Monday, August 3rd. Weiss Ratings downgraded shares of Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, October 14th. Finally, Wall Street Zen lowered shares of Perella Weinberg Partners from a “buy” rating to a “hold” rating in a report on Saturday, October 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. Based on data from MarketBeat, Perella Weinberg Partners currently has a consensus rating of “Hold” and an average target price of $22.00.

Read Our Latest Analysis on PWP

Perella Weinberg Partners Stock Up 3.0%

The firm has a 50 day moving average price of $15.48 and a two-hundred day moving average price of $16.81. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 50.26 and a beta of 1.63.

Perella Weinberg Partners (NASDAQ:PWP – Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.14. Perella Weinberg Partners had a negative return on equity of 35.84% and a net margin of 3.19%. The business had revenue of $156.53 million for the quarter, compared to analyst estimates of $144.76 million.

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 28th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, August 28th. Perella Weinberg Partners’s dividend payout ratio (DPR) is 107.69%.

Insiders Place Their Bets

In other Perella Weinberg Partners news, CEO Andrew Bednar sold 77,753 shares of Perella Weinberg Partners stock in a transaction that occurred on 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. The trade was a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 235,697 shares of company stock worth $4,080,379. 26.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perella Weinberg Partners

A number of institutional investors have recently made changes to their positions in PWP. Allworth Financial LP grew its position in shares of Perella Weinberg Partners by 328.8% during the second quarter. Allworth Financial LP now owns 3,143 shares of the company’s stock worth $50,000 after buying an additional 2,410 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Perella Weinberg Partners by 24.3% in the first 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 last quarter. Ritholtz Wealth Management bought a new stake in shares of Perella Weinberg Partners in the first quarter worth $249,000. Engineers Gate Manager LP acquired a new stake in Perella Weinberg Partners in the second quarter valued at $273,000. Finally, IFP Advisors Inc raised its holdings in Perella Weinberg Partners by 7,779.7% in the second quarter. IFP Advisors Inc now owns 21,354 shares of the company’s stock valued at $341,000 after acquiring an additional 21,083 shares in the last quarter. 41.07% of the stock is owned by institutional investors and hedge funds.

Perella Weinberg Partners Company Profile

(Get Free Report)

Perella Weinberg Partners (NASDAQ:PWP) is an independent global financial services firm that provides strategic and financial advice to corporations, financial sponsors, governments and other institutions. The company operates primarily through its advisory business, helping clients address complex transactions and corporate finance matters.

Its services include mergers and acquisitions, divestitures, strategic alternatives, capital solutions, shareholder activism defense and other corporate advisory assignments.

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