Perella Weinberg Partners (NASDAQ:PWP) Sets New 1-Year High – What’s Next?

Perella Weinberg Partners (NASDAQ:PWP) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $28.00 and last traded at $25.31, with a volume of 4779 shares traded. The stock had previously closed at $26.16.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods cut their price objective on shares of Perella Weinberg Partners from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th.

Perella Weinberg Partners Stock Down 4.2 %

The firm’s fifty day simple moving average is $24.68 and its two-hundred day simple moving average is $21.93. The firm has a market cap of $2.21 billion, a PE ratio of -10.47 and a beta of 1.59.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%.

Insider Transactions at Perella Weinberg Partners

In other news, President Dietrich Becker sold 442,889 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction of $10,841,922.72. Following the transaction, the president now directly owns 379,140 shares of the company’s stock, valued at approximately $9,281,347.20. The trade was a 53.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $7,358,173.92. Following the completion of the sale, the chief executive officer now directly owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. This represents a 34.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 43.53% of the company’s stock.

Hedge Funds Weigh In On Perella Weinberg Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings in Perella Weinberg Partners by 30.4% in the second quarter. The Manufacturers Life Insurance Company now owns 20,167 shares of the company’s stock worth $328,000 after buying an additional 4,697 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Perella Weinberg Partners in the third quarter worth about $406,000. US Bancorp DE bought a new stake in shares of Perella Weinberg Partners during the 3rd quarter worth about $325,000. Harbor Capital Advisors Inc. increased its holdings in shares of Perella Weinberg Partners by 72.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,728 shares of the company’s stock valued at $960,000 after acquiring an additional 20,923 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Perella Weinberg Partners by 14.3% in the 3rd quarter. Royce & Associates LP now owns 1,179,111 shares of the company’s stock valued at $22,769,000 after acquiring an additional 147,424 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

About Perella Weinberg Partners

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.