Perella Weinberg Partners (NASDAQ:PWP) Sees Large Volume Increase – Here’s What Happened

Perella Weinberg Partners (NASDAQ:PWP) saw unusually-strong trading volume on Tuesday . Approximately 633,018 shares changed hands during trading, an increase of 52% from the previous session’s volume of 416,411 shares.The stock last traded at $25.44 and had previously closed at $25.48.

Analysts Set New Price Targets

Separately, JMP Securities raised their target price on shares of 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 Trading Up 0.9 %

The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -10.57 and a beta of 1.49. The business has a 50 day simple moving average of $20.54 and a 200-day simple moving average of $17.99.

Perella Weinberg Partners (NASDAQ:PWP) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. The firm had revenue of $278.20 million during the quarter, compared to the consensus estimate of $196.42 million. Perella Weinberg Partners had a negative net margin of 11.09% and a positive return on equity of 80.95%. Perella Weinberg Partners’s revenue was up 100.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 earnings per share.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -11.81%.

Institutional Trading of Perella Weinberg Partners

A number of hedge funds have recently made changes to their positions in the company. Arizona State Retirement System grew its holdings in Perella Weinberg Partners by 15.3% during the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after purchasing an additional 1,724 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Perella Weinberg Partners by 16.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock valued at $174,000 after purchasing an additional 1,753 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Perella Weinberg Partners by 17.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock valued at $272,000 after purchasing an additional 2,537 shares in the last quarter. California State Teachers Retirement System grew its stake in Perella Weinberg Partners by 6.0% during the 1st quarter. California State Teachers Retirement System now owns 45,448 shares of the company’s stock valued at $642,000 after purchasing an additional 2,560 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Perella Weinberg Partners by 27.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock worth $215,000 after purchasing an additional 3,237 shares during the last quarter. 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.