Perella Weinberg Partners (NASDAQ:PWP) Short Interest Update

Perella Weinberg Partners (NASDAQ:PWP) was the target of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 2,780,000 shares, a decrease of 13.9% from the December 31st total of 3,230,000 shares. Based on an average daily volume of 578,100 shares, the days-to-cover ratio is currently 4.8 days. Currently, 5.1% of the shares of the stock are sold short.

Perella Weinberg Partners Price Performance

PWP opened at $25.82 on Monday. Perella Weinberg Partners has a one year low of $11.44 and a one year high of $27.03. The stock’s fifty day moving average is $24.66 and its 200-day moving average is $21.77.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. The company had revenue of $278.20 million for the quarter, compared to the consensus estimate of $196.42 million. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The company’s quarterly revenue was up 100.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 EPS.

Perella Weinberg Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.08%. The ex-dividend date was Wednesday, December 4th. Perella Weinberg Partners’s payout ratio is -11.81%.

Insider Transactions at Perella Weinberg Partners

In other news, President Dietrich Becker sold 442,889 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the sale, the president now owns 379,140 shares in the company, valued at approximately $9,281,347.20. This represents a 53.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the completion of the transaction, the chief executive officer now directly owns 566,386 shares in the company, valued at $13,865,129.28. This represents a 34.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 43.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PWP. Rhumbline Advisers increased its holdings in Perella Weinberg Partners by 1.2% in the 4th quarter. Rhumbline Advisers now owns 70,861 shares of the company’s stock valued at $1,689,000 after buying an additional 854 shares during the period. Barclays PLC lifted its position in Perella Weinberg Partners by 0.8% during the 3rd quarter. Barclays PLC now owns 186,387 shares of the company’s stock valued at $3,600,000 after purchasing an additional 1,517 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Perella Weinberg Partners in the 4th quarter valued at about $64,000. The Manufacturers Life Insurance Company increased its stake in shares of Perella Weinberg Partners by 30.4% in the 2nd 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 during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Perella Weinberg Partners by 25.6% in the 4th quarter. SG Americas Securities LLC now owns 26,396 shares of the company’s stock valued at $629,000 after acquiring an additional 5,374 shares during the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Perella Weinberg Partners from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. JMP Securities boosted their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th.

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.