Perella Weinberg Partners (NASDAQ:PWP) Hits New 12-Month High – Should You Buy?

Perella Weinberg Partners (NASDAQ:PWP)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $21.88 and last traded at $21.84, with a volume of 116831 shares changing hands. The stock had previously closed at $21.37.

Analyst Upgrades and Downgrades

PWP has been the subject of several recent research reports. JMP Securities boosted their price target on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, July 12th.

Perella Weinberg Partners Stock Up 0.6 %

The company has a fifty day simple moving average of $19.44 and a 200 day simple moving average of $17.08. The firm has a market capitalization of $2.08 billion, a P/E ratio of -11.89 and a beta of 1.50.

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

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Thursday, September 5th. Perella Weinberg Partners’s dividend payout ratio is -15.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. bought a new stake in shares of Perella Weinberg Partners in the second quarter worth about $35,715,000. Millennium Management LLC boosted its stake in shares of Perella Weinberg Partners by 2,883.9% during the second quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock valued at $28,012,000 after purchasing an additional 1,666,015 shares during the period. William Blair Investment Management LLC bought a new stake in Perella Weinberg Partners during the 2nd quarter valued at about $20,198,000. Wasatch Advisors LP grew its stake in Perella Weinberg Partners by 113.0% in the 1st quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock worth $20,384,000 after acquiring an additional 765,461 shares in the last quarter. Finally, Boston Partners increased 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 worth $7,568,000 after acquiring an additional 381,091 shares during the period. Hedge funds and other institutional investors own 41.07% of the company’s stock.

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.