Perella Weinberg Partners (NASDAQ:PWP) Sets New 52-Week Low – Time to Sell?

Perella Weinberg Partners (NASDAQ:PWP) reached a new 52-week low on Monday . The stock traded as low as $14.06 and last traded at $14.0610, with a volume of 453543 shares. The stock had previously closed at $14.79.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PWP. The Goldman Sachs Group lifted their price target on Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a report on Monday, August 3rd. Weiss Ratings lowered shares of Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Wall Street Zen raised shares of Perella Weinberg Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $21.00 target price (up from $19.00) on shares of Perella Weinberg Partners in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $22.00.

Perella Weinberg Partners Trading Down 6.7%

The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 51.58 and a beta of 1.62. The company has a fifty day moving average price of $16.20 and a 200-day moving average price of $17.31.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Friday, July 31st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 negative return on equity of 35.84% and a net margin of 3.19%.

Perella Weinberg Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 28th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, August 28th. Perella Weinberg Partners’s dividend payout ratio (DPR) is 107.69%.

Insider Buying and Selling at Perella Weinberg Partners

In other Perella Weinberg Partners 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 completion of the sale, the chief executive officer owned 1,061,260 shares of the company’s stock, 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 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 a total of 235,697 shares of company stock valued at $4,080,379 over the last ninety days. 26.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Perella Weinberg Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its position in shares of Perella Weinberg Partners by 328.8% in the second quarter. Allworth Financial LP now owns 3,143 shares of the company’s stock valued at $50,000 after purchasing an additional 2,410 shares during the period. PNC Financial Services Group Inc. raised 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 acquiring an additional 1,338 shares during the period. Alpine Global Management LLC acquired a new position in Perella Weinberg Partners during the 4th quarter worth $181,000. ProShare Advisors LLC boosted its holdings in Perella Weinberg Partners by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock valued at $197,000 after acquiring an additional 733 shares during the period. Finally, Ritholtz Wealth Management acquired a new stake in shares of Perella Weinberg Partners in the first quarter valued at about $249,000. 41.07% of the stock is currently owned by institutional investors and hedge funds.

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.