Perella Weinberg Partners (NASDAQ:PWP) Short Interest Update

Perella Weinberg Partners (NASDAQ:PWP) saw a significant decline in short interest in January. As of January 15th, there was short interest totalling 2,780,000 shares, a decline of 13.9% from the December 31st total of 3,230,000 shares. Currently, 5.1% of the company’s stock are sold short. Based on an average daily trading volume, of 578,100 shares, the short-interest ratio is presently 4.8 days.

Perella Weinberg Partners Stock Performance

Perella Weinberg Partners stock opened at $25.82 on Monday. Perella Weinberg Partners has a 12 month low of $11.44 and a 12 month high of $27.03. The business has a 50 day simple moving average of $24.66 and a 200-day simple moving average of $21.77.

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

Perella Weinberg Partners Announces Dividend

The company 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 dividend yield of 1.08%. The ex-dividend date of this dividend was Wednesday, December 4th. Perella Weinberg Partners’s payout ratio is -11.81%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PWP shares. Keefe, Bruyette & Woods reduced their price target on Perella Weinberg Partners from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. JMP Securities lifted their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th.

Insider Buying and Selling

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

Institutional Trading of Perella Weinberg Partners

Several large investors have recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in Perella Weinberg Partners in the 4th quarter valued at $64,000. Intech Investment Management LLC acquired a new position in Perella Weinberg Partners during the 3rd quarter worth approximately $197,000. PDT Partners LLC acquired a new position in Perella Weinberg Partners during the 3rd quarter worth approximately $210,000. Y Intercept Hong Kong Ltd acquired a new position in Perella Weinberg Partners during the 3rd quarter worth approximately $214,000. Finally, US Bancorp DE acquired a new position in Perella Weinberg Partners during the 3rd quarter worth approximately $325,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

About Perella Weinberg Partners

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.