Perella Weinberg Partners (NASDAQ:PWP) Reaches New 12-Month High – Still a Buy?

Perella Weinberg Partners (NASDAQ:PWP) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $21.88 and last traded at $21.84, with a volume of 116831 shares traded. The stock had previously closed at $21.37.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PWP. JMP Securities upped their target price on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th.

Perella Weinberg Partners Price Performance

The stock’s 50-day moving average price is $19.14 and its 200 day moving average price is $16.95. The firm has a market capitalization of $2.05 billion, a PE ratio of -11.59 and a beta of 1.50.

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

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 5th. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -15.05%.

Institutional Investors Weigh In On Perella Weinberg Partners

Hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd bought a new position in shares of Perella Weinberg Partners in the 4th quarter worth $165,000. Allspring Global Investments Holdings LLC raised its holdings in Perella Weinberg Partners by 27.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock worth $215,000 after purchasing an additional 3,237 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Perella Weinberg Partners by 113.0% during the first quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock valued at $20,384,000 after buying an additional 765,461 shares during the last quarter. Swiss National Bank lifted its position in shares of Perella Weinberg Partners by 13.4% during the first quarter. Swiss National Bank now owns 90,400 shares of the company’s stock valued at $1,277,000 after buying an additional 10,700 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Perella Weinberg Partners by 9.4% in the 1st quarter. Sei Investments Co. now owns 83,735 shares of the company’s stock valued at $1,183,000 after buying an additional 7,203 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, 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.