Perella Weinberg Partners (NASDAQ:PWP) Shares Down 7.3% - Should You Sell?

Key Points

• Perella Weinberg Partners shares fell 7.3% to about $13.33 in low-volume trading, below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a $22 price target, with targets ranging from $16 to $21. The company recently beat quarterly earnings and revenue estimates.
• The firm pays a quarterly dividend of $0.07, equivalent to a 2.1% yield, but its payout ratio is elevated at 107.69%. CEO Andrew Bednar recently sold shares to cover tax obligations, while insiders still own 26.1% of the company.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) shares traded down 7.3% during mid-day trading on Tuesday . The company traded as low as $13.37 and last traded at $13.3260. 246,138 shares changed hands during trading, a decline of 78% from the average session volume of 1,116,104 shares. The stock had previously closed at $14.37.

Analysts Set New Price Targets

Several brokerages have weighed in on PWP. The Goldman Sachs Group upped 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 cut Perella Weinberg Partners from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. Wall Street Zen upgraded Perella Weinberg Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $21.00 price objective (up from $19.00) on shares of Perella Weinberg Partners in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $22.00.

Perella Weinberg Partners Stock Performance

The company has a market cap of $1.26 billion, a P/E ratio of 51.49 and a beta of 1.62. The firm has a 50 day moving average price of $16.26 and a 200-day moving average price of $17.36.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $156.53 million for the quarter, compared to the consensus estimate of $144.76 million. Perella Weinberg Partners had a negative return on equity of 35.84% and a net margin of 3.19%.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 28th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.1%. Perella Weinberg Partners's dividend payout ratio (DPR) is currently 107.69%.

Insider Buying and Selling at Perella Weinberg Partners

In related news, CEO Andrew Bednar sold 77,753 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $17.41, for a total transaction of $1,353,679.73. Following the completion of the sale, the chief executive officer directly owned 1,061,260 shares of the company's stock, valued at approximately $18,476,536.60. This represents a 6.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 in the last ninety days. 26.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Perella Weinberg Partners

A number of institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its holdings in Perella Weinberg Partners by 328.8% during the second quarter. Allworth Financial LP now owns 3,143 shares of the company's stock valued at $50,000 after purchasing an additional 2,410 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Perella Weinberg Partners by 24.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company's stock worth $124,000 after buying an additional 1,338 shares in the last quarter. Alpine Global Management LLC acquired a new position in shares of Perella Weinberg Partners in the 4th quarter worth approximately $181,000. ProShare Advisors LLC lifted its position in shares of Perella Weinberg Partners by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 11,366 shares of the company's stock worth $197,000 after buying an additional 733 shares during the period. Finally, Ritholtz Wealth Management bought a new position in shares of Perella Weinberg Partners during the 1st quarter worth approximately $249,000. 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.

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