Perella Weinberg Partners (NASDAQ:PWP) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Perella Weinberg Partners (NASDAQ:PWP) from a hold rating to a buy rating in a report released on Saturday.

A number of other research analysts have also recently weighed in on the company. 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. The Goldman Sachs Group increased their target price on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Monday, August 3rd. Finally, Weiss Ratings cut shares of Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Perella Weinberg Partners presently has an average rating of “Hold” and a consensus price target of $22.00.

Perella Weinberg Partners Stock Performance

Shares of Perella Weinberg Partners stock opened at $16.61 on Friday. The stock has a market cap of $1.56 billion, a P/E ratio of 63.89 and a beta of 1.64. The stock’s fifty day moving average is $16.23 and its 200 day moving average is $17.99. Perella Weinberg Partners has a one year low of $14.11 and a one year high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results 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 business had revenue of $156.53 million during the quarter, compared to analyst estimates 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 28th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, August 28th. Perella Weinberg Partners’s dividend payout ratio is presently 107.69%.

Insider Buying and Selling

In other news, CEO Andrew Bednar sold 77,753 shares of the business’s stock in a transaction dated 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 in the company, valued at $18,476,536.60. The trade was a 6.83% decrease in their ownership of the stock. The sale 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 sold 235,697 shares of company stock worth $4,080,379 over the last quarter. 26.10% of the stock is owned by company insiders.

Institutional Trading of Perella Weinberg Partners

Several institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in Perella Weinberg Partners by 32.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,189,199 shares of the company’s stock valued at $82,820,000 after purchasing an additional 1,263,345 shares during the period. Public Employees Retirement System of Ohio bought a new position in Perella Weinberg Partners in the 2nd quarter worth approximately $1,217,000. Ranger Investment Management L.P. bought a new position in Perella Weinberg Partners in the 2nd quarter worth approximately $5,139,000. Bank of America Corp DE boosted its stake in Perella Weinberg Partners by 41.6% in the 1st quarter. Bank of America Corp DE now owns 1,316,482 shares of the company’s stock worth $23,907,000 after purchasing an additional 386,473 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Perella Weinberg Partners by 61.5% during the 1st quarter. Janus Henderson Group PLC now owns 36,494 shares of the company’s stock valued at $663,000 after buying an additional 13,900 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.