Perella Weinberg Partners (NASDAQ:PWP) Upgraded 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 issued on Saturday,Wall Street Zen reports.

A number of other analysts have also recently weighed in on PWP. The Goldman Sachs Group increased their price objective 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 lowered Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, October 14th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $20.00 price target (up from $19.00) on shares of Perella Weinberg Partners in a research note on Friday. 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.com, Perella Weinberg Partners has an average rating of “Hold” and an average price target of $21.75.

Perella Weinberg Partners Stock Performance

Shares of Perella Weinberg Partners stock opened at $14.47 on Friday. The company has a market capitalization of $1.36 billion, a P/E ratio of 37.10 and a beta of 1.63. Perella Weinberg Partners has a 1 year low of $12.13 and a 1 year high of $25.92. The company’s fifty day moving average is $14.73 and its two-hundred day moving average is $17.41.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Thursday, October 29th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.22. The business had revenue of $251.37 million during the quarter, compared to the consensus estimate of $172.82 million. Perella Weinberg Partners had a net margin of 3.19% and a negative return on equity of 35.84%.

Perella Weinberg Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 24th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, November 24th. Perella Weinberg Partners’s payout ratio is 71.79%.

Insider Activity

In related news, CEO Andrew Bednar sold 80,045 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $17.17, for a total transaction of $1,374,372.65. Following the completion of the transaction, the chief executive officer directly owned 1,139,013 shares of the company’s stock, valued at $19,556,853.21. This represents a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 in the last quarter. Insiders own 26.10% of the company’s stock.

Institutional Investors Weigh In On Perella Weinberg Partners

Institutional investors have recently added to or reduced their stakes in the business. State of Wyoming purchased a new stake in shares of Perella Weinberg Partners in the third quarter valued at approximately $141,000. Sterling Capital Management LLC grew its holdings in Perella Weinberg Partners by 902.0% during the third quarter. Sterling Capital Management LLC now owns 2,475 shares of the company’s stock worth $40,000 after acquiring an additional 2,228 shares during the period. T3 Companies LLC purchased a new position in Perella Weinberg Partners in the third quarter worth $285,000. Kings Path Partners LLC purchased a new position in Perella Weinberg Partners in the third quarter worth $360,000. Finally, Engineers Gate Manager LP acquired a new stake in Perella Weinberg Partners in the second quarter valued at $273,000. Hedge funds and other institutional investors own 41.07% of the company’s stock.

About Perella Weinberg Partners

Perella Weinberg Partners (NASDAQ: PWP) is an independent investment banking and financial services firm that provides strategic and financial advice to corporations, financial institutions, governments, and other organizations. The firm focuses on complex, high-value transactions and situations that require specialized advice and senior-level expertise.

Its services include mergers and acquisitions, strategic transactions, financial restructurings, capital markets advisory, and private capital advisory.