Perella Weinberg Partners (NASDAQ:PWP) Reaches New 1-Year High – Here’s What Happened

Perella Weinberg Partners (NASDAQ:PWP) hit a new 52-week high on Tuesday . The company traded as high as $21.88 and last traded at $21.84, with a volume of 116831 shares traded. The stock had previously closed at $21.37.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JMP Securities upped their target price on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods raised their target price on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, July 12th.

Perella Weinberg Partners Stock Up 1.6 %

The business has a fifty day simple moving average of $19.14 and a two-hundred day simple moving average of $16.95. The company has a market cap of $2.05 billion, a P/E ratio of -11.59 and a beta of 1.50.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.26. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The business had revenue of $272.00 million for the quarter, compared to the consensus estimate of $179.35 million. During the same period last year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was up 64.3% on a year-over-year basis.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.29%. Perella Weinberg Partners’s payout ratio is currently -15.05%.

Institutional Investors Weigh In On Perella Weinberg Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Westwood Holdings Group Inc. purchased a new position in shares of Perella Weinberg Partners in the second quarter worth $35,715,000. Millennium Management LLC lifted 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 in the last quarter. William Blair Investment Management LLC purchased a new stake in Perella Weinberg Partners in the 2nd quarter worth $20,198,000. Wasatch Advisors LP boosted its holdings in shares of Perella Weinberg Partners by 113.0% during the 1st quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock valued at $20,384,000 after purchasing an additional 765,461 shares during the last quarter. Finally, Boston Partners grew its position in shares of 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 purchasing an additional 381,091 shares in the last quarter. 41.07% of the stock is owned by institutional investors.

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.