Keefe, Bruyette & Woods Lowers Perella Weinberg Partners (NASDAQ:PWP) Price Target to $27.00

Perella Weinberg Partners (NASDAQ:PWP - Free Report) had its price target trimmed by Keefe, Bruyette & Woods from $28.00 to $27.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Separately, JMP Securities raised their price objective on Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 9th.

Perella Weinberg Partners Trading Up 5.1 %

Shares of PWP traded up $1.14 on Tuesday, reaching $23.31. 1,214,366 shares of the company's stock were exchanged, compared to its average volume of 802,583. Perella Weinberg Partners has a 12 month low of $10.73 and a 12 month high of $26.62. The stock has a market capitalization of $2.06 billion, a P/E ratio of -9.84 and a beta of 1.58. The business has a 50 day moving average price of $24.49 and a two-hundred day moving average price of $20.90.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.14. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The company had revenue of $278.20 million for the quarter, compared to the consensus estimate of $196.42 million. During the same quarter in the prior year, the business posted $0.12 EPS. The firm's quarterly revenue was up 100.1% on a year-over-year basis.

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a $0.07 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $0.28 annualized dividend and a yield of 1.20%. Perella Weinberg Partners's dividend payout ratio is currently -11.81%.

Insiders Place Their Bets

In other news, CEO Andrew Bednar sold 300,579 shares of Perella Weinberg Partners stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 566,386 shares in the company, valued at $13,865,129.28. This trade represents a 34.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Dietrich Becker sold 442,889 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $10,841,922.72. Following the transaction, the president now owns 379,140 shares of the company's stock, valued at $9,281,347.20. The trade was a 53.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 43.53% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new stake in Perella Weinberg Partners in the 3rd quarter valued at about $197,000. PDT Partners LLC bought a new stake in Perella Weinberg Partners in the third quarter valued at approximately $210,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Perella Weinberg Partners in the third quarter valued at approximately $214,000. Arizona State Retirement System lifted its position in shares of Perella Weinberg Partners by 15.3% in the second 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 during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Perella Weinberg Partners by 17.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company's stock worth $272,000 after acquiring an additional 2,537 shares during the period. 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.