Perella Weinberg Partners (NASDAQ:PWP) Sets New 52-Week Low - Here's What Happened

Key Points

• Perella Weinberg Partners hit a new 52-week low of $12.46 during trading, though shares later rose 3.0% to $13.18. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed, with ratings ranging from sell to outperform; the overall consensus is Hold with a $22.00 price target.
• The company exceeded quarterly expectations, reporting $0.20 in earnings per share versus a $0.06 estimate and revenue of $156.53 million versus $144.76 million expected. It also pays a $0.07 quarterly dividend, though its payout ratio exceeds 100%.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $12.46 and last traded at $13.18, with a volume of 54,919 shares trading hands. The stock had previously closed at $12.66.

Analysts Set New Price Targets

PWP has been the topic of several research reports. The Goldman Sachs Group increased 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. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $21.00 target price (up from $19.00) on shares of Perella Weinberg Partners in a report on Monday, August 3rd. Weiss Ratings downgraded Perella Weinberg Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, October 14th. Finally, Wall Street Zen downgraded Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, October 3rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Perella Weinberg Partners presently has a consensus rating of "Hold" and a consensus price target of $22.00.

Perella Weinberg Partners Trading Up 3.0%

The stock's 50-day moving average is $15.48 and its 200-day moving average is $16.81. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 50.26 and a beta of 1.63.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly 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 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 Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 28th. Perella Weinberg Partners's dividend payout ratio (DPR) is currently 107.69%.

Insider Activity at Perella Weinberg Partners

In related news, CEO Andrew Bednar sold 80,045 shares of Perella Weinberg Partners stock in a transaction 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 owned 1,139,013 shares in the company, valued at approximately $19,556,853.21. The trade was a 6.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 235,697 shares of company stock valued at $4,080,379. Company insiders own 26.10% of the company's stock.

Institutional Trading of Perella Weinberg Partners

A number of institutional investors have recently added to or reduced their stakes in PWP. Wellington Management Group LLP boosted its position in shares of Perella Weinberg Partners by 32.2% in the second quarter. Wellington Management Group LLP now owns 5,189,199 shares of the company's stock worth $82,820,000 after buying an additional 1,263,345 shares during the period. Bank of America Corp DE grew its stake in shares of Perella Weinberg Partners by 41.6% in the first 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 in the last quarter. Emerald Advisers LLC raised its holdings in shares of Perella Weinberg Partners by 3.2% during 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. Dimensional Fund Advisors LP raised its holdings in shares of Perella Weinberg Partners by 45.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 852,987 shares of the company's stock valued at $15,488,000 after buying an additional 267,859 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of Perella Weinberg Partners by 14.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 621,774 shares of the company's stock valued at $11,291,000 after buying an additional 80,490 shares during the period. 41.07% of the stock is owned by hedge funds and other 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.

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