Perella Weinberg Partners (NASDAQ:PWP) Shares Up 5.7%

Shares of Perella Weinberg Partners (NASDAQ:PWP) rose 5.7% during trading on Wednesday . The company traded as high as $19.01 and last traded at $19.00. Approximately 302,942 shares were traded during trading, a decline of 29% from the average daily volume of 424,419 shares. The stock had previously closed at $17.98.

Analyst Ratings Changes

PWP has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th. JMP Securities reaffirmed a “market outperform” rating and set a $22.00 price target on shares of Perella Weinberg Partners in a research note on Monday, August 5th.

Perella Weinberg Partners Trading Up 7.3 %

The stock has a market capitalization of $1.82 billion, a PE ratio of -9.88 and a beta of 1.50. The business’s 50 day moving average is $16.45 and its 200 day moving average is $15.00.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.26. The company had revenue of $272.00 million during the quarter, compared to analysts’ expectations of $179.35 million. Perella Weinberg Partners had a negative net margin of 7.74% and a positive return on equity of 17.87%. The firm’s quarterly revenue was up 64.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 EPS.

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, September 5th will be given a $0.07 dividend. The ex-dividend date is Thursday, September 5th. This represents a $0.28 annualized dividend and a yield of 1.45%. Perella Weinberg Partners’s dividend payout ratio (DPR) is -15.05%.

Institutional Investors Weigh In On Perella Weinberg Partners

Several large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its holdings in shares of Perella Weinberg Partners by 113.0% in the 1st quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock valued at $20,384,000 after purchasing an additional 765,461 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Perella Weinberg Partners by 17.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,114,240 shares of the company’s stock valued at $15,744,000 after purchasing an additional 166,168 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Perella Weinberg Partners by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock worth $35,212,000 after acquiring an additional 155,855 shares in the last quarter. Basswood Capital Management L.L.C. raised its stake in shares of Perella Weinberg Partners by 18.4% during the 4th quarter. Basswood Capital Management L.L.C. now owns 841,307 shares of the company’s stock worth $10,289,000 after acquiring an additional 130,682 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Perella Weinberg Partners by 160.3% during the 1st quarter. Janus Henderson Group PLC now owns 90,715 shares of the company’s stock worth $1,280,000 after acquiring an additional 55,862 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

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.