Keefe, Bruyette & Woods Issues Pessimistic Forecast for Perella Weinberg Partners (NASDAQ:PWP) Stock Price

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

Separately, JMP Securities upped their price objective on 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 Stock Performance

Shares of NASDAQ PWP opened at $24.55 on Tuesday. The business has a 50-day moving average of $24.52 and a 200-day moving average of $20.98. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -10.36 and a beta of 1.58. Perella Weinberg Partners has a 12 month low of $10.73 and a 12 month high of $26.62.

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

Perella Weinberg Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio is currently -11.81%.

Insiders Place Their Bets

In related news, CEO Andrew Bednar sold 300,579 shares of Perella Weinberg Partners stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value 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 $13,865,129.28. The trade was a 34.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Dietrich Becker sold 442,889 shares of the company’s stock in a transaction on 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 sale, the president now owns 379,140 shares of the company’s stock, valued at $9,281,347.20. This represents 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.

Hedge Funds Weigh In On Perella Weinberg Partners

A number of hedge funds have recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in shares of Perella Weinberg Partners during the third quarter worth about $197,000. PDT Partners LLC purchased a new stake in Perella Weinberg Partners in the 3rd quarter worth approximately $210,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Perella Weinberg Partners in the 3rd quarter worth approximately $214,000. Arizona State Retirement System grew its position in shares of Perella Weinberg Partners by 15.3% in the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock worth $212,000 after buying an additional 1,724 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Perella Weinberg Partners by 17.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock valued at $272,000 after buying an additional 2,537 shares during the period. Hedge funds and other institutional investors own 41.07% of the company’s stock.

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.