Perella Weinberg Partners (NASDAQ:PWP) Stock Price Down 7.3% – Should You Sell?

Perella Weinberg Partners (NASDAQ:PWP)’s share price fell 7.3% during mid-day trading on Tuesday . The stock traded as low as $13.37 and last traded at $13.3260. Approximately 246,138 shares changed hands during trading, a decline of 78% from the average daily volume of 1,116,104 shares. The stock had previously closed at $14.37.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PWP. Keefe, Bruyette & Woods restated 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. Wall Street Zen raised shares of Perella Weinberg Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Weiss Ratings lowered shares of Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Finally, The Goldman Sachs Group upped their price objective on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.00.

Perella Weinberg Partners Price Performance

The business has a 50 day simple moving average of $16.26 and a 200 day simple moving average of $17.36. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 51.49 and a beta of 1.62.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, July 31st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.14. Perella Weinberg Partners had a negative return on equity of 35.84% and a net margin of 3.19%.The company had revenue of $156.53 million during the quarter, compared to analyst estimates of $144.76 million.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 28th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, August 28th. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently 107.69%.

Insider Buying and Selling at Perella Weinberg Partners

In other news, CEO Andrew Bednar sold 80,045 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were 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 approximately $19,556,853.21. This represents a 6.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 235,697 shares of company stock valued at $4,080,379 over the last ninety days. Insiders own 26.10% of the company’s stock.

Institutional Trading of Perella Weinberg Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised 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 worth $82,820,000 after purchasing an additional 1,263,345 shares during the last quarter. William Blair Investment Management LLC boosted its position in Perella Weinberg Partners by 10.6% in the 4th quarter. William Blair Investment Management LLC now owns 3,946,163 shares of the company’s stock valued at $68,269,000 after buying an additional 379,652 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Perella Weinberg Partners by 41.6% in the 1st quarter. Bank of America Corp DE now owns 1,316,482 shares of the company’s stock valued at $23,907,000 after buying an additional 386,473 shares during the period. Emerald Advisers LLC increased its stake in shares of Perella Weinberg Partners by 3.2% in the 1st quarter. Emerald Advisers LLC now owns 1,019,869 shares of the company’s stock valued at $18,521,000 after buying an additional 31,163 shares during the period. Finally, Dimensional Fund Advisors LP raised its position 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 worth $15,488,000 after acquiring an additional 267,859 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Perella Weinberg Partners Company Profile

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.