Perella Weinberg Partners (NASDAQ:PWP) Reaches New 1-Year Low – Should You Sell?

Perella Weinberg Partners (NASDAQ:PWP)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $14.06 and last traded at $14.0610, with a volume of 453543 shares traded. The stock had previously closed at $14.79.

Analyst Ratings Changes

A number of research firms recently commented on PWP. The Goldman Sachs Group increased their target price on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a research report 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 downgraded Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $21.00 price objective (up from $19.00) on shares of Perella Weinberg Partners in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.00.

Perella Weinberg Partners Price Performance

The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 54.30 and a beta of 1.62. The firm has a fifty day simple moving average of $16.32 and a two-hundred day simple moving average of $17.39.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.14. The firm had revenue of $156.53 million for the quarter, compared to the consensus estimate of $144.76 million. Perella Weinberg Partners had a net margin of 3.19% and a negative return on equity of 35.84%.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 28th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 28th. Perella Weinberg Partners’s payout ratio is presently 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 stock was sold at an average price of $17.41, for a total value of $1,353,679.73. Following the transaction, the chief executive officer directly owned 1,061,260 shares of the company’s stock, valued at $18,476,536.60. This represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 worth $4,080,379 over the last 90 days. 26.10% of the stock is owned by insiders.

Institutional Trading of Perella Weinberg Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in shares of Perella Weinberg Partners in the fourth quarter valued at about $45,000. Allworth Financial LP lifted its holdings in shares of Perella Weinberg Partners by 328.8% during the second quarter. Allworth Financial LP now owns 3,143 shares of the company’s stock worth $50,000 after purchasing an additional 2,410 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in Perella Weinberg Partners in the fourth quarter valued at approximately $86,000. Tower Research Capital LLC TRC boosted its position in Perella Weinberg Partners by 460.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock valued at $100,000 after buying an additional 4,232 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in 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 during the period. Institutional investors and hedge funds own 41.07% of the company’s stock.

About Perella Weinberg Partners

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.