Perella Weinberg Partners (NASDAQ:PWP) Given New $27.00 Price Target at Keefe, Bruyette & Woods

Perella Weinberg Partners (NASDAQ:PWP) had its target price trimmed by Keefe, Bruyette & Woods from $28.00 to $27.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Separately, JMP Securities upped their price objective on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th.

Perella Weinberg Partners Price Performance

NASDAQ PWP opened at $23.31 on Tuesday. The business’s 50-day moving average is $24.53 and its 200 day moving average is $20.95. The stock has a market capitalization of $2.06 billion, a PE ratio of -9.84 and a beta of 1.58. Perella Weinberg Partners has a 1 year low of $10.73 and a 1 year high of $26.62.

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

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio is currently -11.81%.

Insider Activity at Perella Weinberg Partners

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

Institutional Trading of Perella Weinberg Partners

Several institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in shares of Perella Weinberg Partners in the third quarter worth approximately $197,000. PDT Partners LLC bought a new position in Perella Weinberg Partners in the 3rd quarter valued at approximately $210,000. Arizona State Retirement System boosted its stake 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 during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Perella Weinberg Partners in the 3rd quarter worth $214,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Perella Weinberg Partners by 17.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock worth $272,000 after purchasing an additional 2,537 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

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.