Perella Weinberg Partners (NASDAQ:PWP) Sets New 12-Month High at $16.64

Shares of Perella Weinberg Partners (NASDAQ:PWP) hit a new 52-week high during trading on Wednesday . The stock traded as high as $16.64 and last traded at $16.57, with a volume of 674730 shares trading hands. The stock had previously closed at $15.78.

Analyst Ratings Changes

Separately, JMP Securities lifted their price target on shares of Perella Weinberg Partners from $18.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th.

Perella Weinberg Partners Stock Performance

The company has a market capitalization of $1.56 billion, a P/E ratio of -8.70 and a beta of 1.50. The business’s fifty day simple moving average is $15.14 and its 200-day simple moving average is $13.89.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, May 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter. Perella Weinberg Partners had a negative net margin of 7.74% and a positive return on equity of 17.87%. The company had revenue of $102.13 million during the quarter.

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were paid a $0.07 dividend. The ex-dividend date was Friday, May 24th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.69%. Perella Weinberg Partners’s payout ratio is currently -15.05%.

Hedge Funds Weigh In On Perella Weinberg Partners

A number of institutional investors and hedge funds have recently made changes to their positions in PWP. Vanguard Group Inc. lifted its position in Perella Weinberg Partners by 6.7% during the first quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock valued at $35,212,000 after acquiring an additional 155,855 shares during the last quarter. Wasatch Advisors LP lifted its position in Perella Weinberg Partners by 113.0% during the first quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock valued at $20,384,000 after acquiring an additional 765,461 shares during the last quarter. Russell Investments Group Ltd. lifted its position 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 valued at $15,744,000 after acquiring an additional 166,168 shares during the last quarter. Basswood Capital Management L.L.C. lifted its position in Perella Weinberg Partners by 18.4% during the fourth quarter. Basswood Capital Management L.L.C. now owns 841,307 shares of the company’s stock valued at $10,289,000 after acquiring an additional 130,682 shares during the last quarter. Finally, Boston Partners lifted its position in Perella Weinberg Partners by 247.7% during the first quarter. Boston Partners now owns 534,968 shares of the company’s stock valued at $7,568,000 after acquiring an additional 381,091 shares during the last quarter. 41.07% of the stock is owned by hedge funds and other 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.