Perella Weinberg Partners (NASDAQ:PWP) Hits New 12-Month High - Time to Buy?

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.03 and last traded at $26.41, with a volume of 64796 shares. The stock had previously closed at $26.41.

Wall Street Analyst Weigh In

PWP has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on Perella Weinberg Partners from $28.00 to $27.00 and set an "outperform" rating for the company in a report on Tuesday, January 14th. JMP Securities raised their target price on shares of 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.

Perella Weinberg Partners Stock Down 0.9 %

The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of -11.05 and a beta of 1.58. The company's fifty day simple moving average is $24.62 and its 200 day simple moving average is $21.32.

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

Perella Weinberg Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.28 annualized dividend and a yield of 1.07%. Perella Weinberg Partners's payout ratio is currently -11.81%.

Insider Activity at Perella Weinberg Partners

In other Perella Weinberg Partners news, President Dietrich Becker sold 442,889 shares of Perella Weinberg Partners stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the completion of the sale, the president now owns 379,140 shares in the company, valued at $9,281,347.20. The trade was a 53.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Bednar sold 300,579 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the transaction, the chief executive officer now owns 566,386 shares in the company, valued at approximately $13,865,129.28. The trade was a 34.67 % decrease in their position. The disclosure for this sale can be found here. 43.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perella Weinberg Partners

Large investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of Perella Weinberg Partners by 0.8% during the 3rd quarter. Barclays PLC now owns 186,387 shares of the company's stock worth $3,600,000 after buying an additional 1,517 shares in the last quarter. The Manufacturers Life Insurance Company grew its position 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 valued at $328,000 after acquiring an additional 4,697 shares during the last quarter. SG Americas Securities LLC raised its stake in Perella Weinberg Partners by 25.6% during the fourth quarter. SG Americas Securities LLC now owns 26,396 shares of the company's stock worth $629,000 after acquiring an additional 5,374 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Perella Weinberg Partners in the third quarter worth about $197,000. Finally, Algert Global LLC boosted its stake in shares of Perella Weinberg Partners by 7.2% in the 3rd quarter. Algert Global LLC now owns 158,646 shares of the company's stock valued at $3,063,000 after purchasing an additional 10,621 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

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.