Perella Weinberg Partners (NASDAQ:PWP) Hits New 12-Month High Following Analyst Upgrade

Perella Weinberg Partners (NASDAQ:PWP)’s share price hit a new 52-week high during trading on Wednesday after JMP Securities raised their price target on the stock from $22.00 to $26.00. JMP Securities currently has a market outperform rating on the stock. Perella Weinberg Partners traded as high as $20.60 and last traded at $20.40, with a volume of 284481 shares changing hands. The stock had previously closed at $19.93.

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, July 12th.

Hedge Funds Weigh In On Perella Weinberg Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PWP. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Perella Weinberg Partners by 122.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock valued at $159,000 after purchasing an additional 5,379 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Perella Weinberg Partners during the 4th quarter valued at about $165,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Perella Weinberg Partners by 16.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock worth $174,000 after purchasing an additional 1,753 shares in the last quarter. Arizona State Retirement System raised its position in shares of Perella Weinberg Partners by 15.3% during the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after buying an additional 1,724 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Perella Weinberg Partners by 27.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock valued at $215,000 after purchasing an additional 3,237 shares during the last quarter. Institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Stock Up 3.5 %

The firm has a market capitalization of $1.94 billion, a P/E ratio of -11.09 and a beta of 1.50. The business’s 50-day simple moving average is $18.95 and its 200 day simple moving average is $16.79.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.26. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The firm had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $179.35 million. During the same quarter last year, the business earned $0.16 earnings per share. The business’s revenue was up 64.3% on a year-over-year basis.

Perella Weinberg Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.07 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.28 annualized dividend and a dividend yield of 1.36%. Perella Weinberg Partners’s payout ratio is presently -15.05%.

Perella Weinberg Partners Company Profile

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.