Perella Weinberg Partners (NASDAQ:PWP) Sees Large Volume Increase – Should You Buy?

Shares of Perella Weinberg Partners (NASDAQ:PWP) saw strong trading volume on Tuesday. 1,457,232 shares changed hands during trading, an increase of 26% from the previous session’s volume of 1,153,433 shares. The stock last traded at $16.0930 and had previously closed at $14.64.

Analyst Ratings Changes

PWP has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Monday, August 3rd. Wall Street Zen raised Perella Weinberg Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $21.00 target price (up from $19.00) on shares of Perella Weinberg Partners in a research note on Monday, August 3rd. Finally, Weiss Ratings downgraded Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Two equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.00.

Perella Weinberg Partners Trading Up 15.0%

The company has a market capitalization of $1.58 billion, a PE ratio of 64.67 and a beta of 1.62. The firm’s 50-day simple moving average is $15.84 and its 200-day simple moving average is $17.02.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, July 31st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.14. Perella Weinberg Partners had a net margin of 3.19% and a negative return on equity of 35.84%. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 28th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.28 annualized dividend and a yield of 1.7%. Perella Weinberg Partners’s dividend payout ratio is 107.69%.

Insider Buying and Selling

In other Perella Weinberg Partners news, CEO Andrew Bednar sold 80,045 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $17.17, for a total transaction of $1,374,372.65. Following the transaction, the chief executive officer directly owned 1,139,013 shares in the company, valued at $19,556,853.21. This trade represents a 6.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 quarter, insiders sold 235,697 shares of company stock worth $4,080,379. Company insiders own 26.10% of the company’s stock.

Hedge Funds Weigh In On Perella Weinberg Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in PWP. ProShare Advisors LLC lifted its stake in Perella Weinberg Partners by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock valued at $197,000 after acquiring an additional 733 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of 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 valued at $124,000 after acquiring an additional 1,338 shares during the last quarter. Allworth Financial LP increased its stake in shares of Perella Weinberg Partners by 328.8% in the second quarter. Allworth Financial LP now owns 3,143 shares of the company’s stock worth $50,000 after acquiring an additional 2,410 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Perella Weinberg Partners by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 237,570 shares of the company’s stock worth $4,314,000 after acquiring an additional 3,236 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Perella Weinberg Partners by 4.4% during the first quarter. Swiss National Bank now owns 131,900 shares of the company’s stock worth $2,395,000 after purchasing an additional 5,600 shares during the last quarter. Institutional investors own 41.07% of the company’s stock.

About Perella Weinberg Partners

Perella Weinberg Partners (NASDAQ:PWP) is an independent global advisory firm that provides strategic and financial advice to corporations, financial sponsors, institutions and other organizations. The firm focuses on complex transactions and business situations where clients require specialized expertise and objective advice.

Its principal services include mergers and acquisitions, divestitures, restructuring and liability management, capital structure and financing advice, and other strategic matters.