Perella Weinberg Partners (NASDAQ:PWP) Stock Falls 14.6% – Time to Sell?

Perella Weinberg Partners (NASDAQ:PWP)’s stock price dropped 14.6% on Wednesday. The company traded as low as $15.24 and last traded at $13.7550. Approximately 961,841 shares changed hands during trading, a decline of 23% from the average daily volume of 1,250,859 shares. The stock had previously closed at $16.10.

Analyst Ratings Changes

PWP has been the topic of several research analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $21.00 price target (up from $19.00) on shares of Perella Weinberg Partners in a research note on Monday, August 3rd. The Goldman Sachs Group boosted their target price on Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Monday, August 3rd. Weiss Ratings raised Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 29th. Finally, Wall Street Zen lowered Perella Weinberg Partners from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Perella Weinberg Partners presently has a consensus rating of “Hold” and an average target price of $22.00.

Perella Weinberg Partners Stock Performance

The business’s fifty day moving average price is $15.81 and its two-hundred day moving average price is $16.94. The stock has a market capitalization of $1.30 billion, a P/E ratio of 54.13 and a beta of 1.63.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $156.53 million for the quarter, compared to analysts’ expectations of $144.76 million.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 28th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 28th. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently 107.69%.

Insider Activity at Perella Weinberg Partners

In other news, CEO Andrew Bednar sold 80,045 shares of the business’s stock in a transaction that occurred 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 owned 1,139,013 shares of the company’s stock, valued at approximately $19,556,853.21. The trade was a 6.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 235,697 shares of company stock valued at $4,080,379. 26.10% of the stock is currently owned by insiders.

Institutional Trading of Perella Weinberg Partners

A number of institutional investors have recently bought and sold shares of PWP. Wellington Management Group LLP grew its position in Perella Weinberg Partners by 32.2% in the 2nd quarter. Wellington Management Group LLP now owns 5,189,199 shares of the company’s stock valued at $82,820,000 after acquiring an additional 1,263,345 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Perella Weinberg Partners by 41.6% during the first quarter. Bank of America Corp DE now owns 1,316,482 shares of the company’s stock worth $23,907,000 after purchasing an additional 386,473 shares during the last quarter. Emerald Advisers LLC lifted its position in shares of Perella Weinberg Partners by 3.2% during the first quarter. Emerald Advisers LLC now owns 1,019,869 shares of the company’s stock worth $18,521,000 after purchasing an additional 31,163 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Perella Weinberg Partners by 45.8% during the first quarter. Dimensional Fund Advisors LP now owns 852,987 shares of the company’s stock valued at $15,488,000 after purchasing an additional 267,859 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in shares of Perella Weinberg Partners by 14.9% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 621,774 shares of the company’s stock valued at $11,291,000 after purchasing an additional 80,490 shares during the period. 41.07% of the stock is currently owned by institutional investors.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners (NASDAQ:PWP) is an independent global financial services firm that provides strategic and financial advice to corporations, financial sponsors, governments and other institutions. The company operates primarily through its advisory business, helping clients address complex transactions and corporate finance matters.

Its services include mergers and acquisitions, divestitures, strategic alternatives, capital solutions, shareholder activism defense and other corporate advisory assignments.