Perella Weinberg Partners (NASDAQ:PWP) Shares Down 7.6% – Here’s What Happened

Perella Weinberg Partners (NASDAQ:PWP)’s stock price dropped 7.6% during mid-day trading on Wednesday . The company traded as low as $15.08 and last traded at $15.0770. 192,154 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,120,801 shares. The stock had previously closed at $16.31.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PWP. Keefe, Bruyette & Woods raised their price target on Perella Weinberg Partners from $21.00 to $23.50 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Citizens Jmp lowered their target price on Perella Weinberg Partners from $32.00 to $30.00 and set a “market outperform” rating for the company in a research note on Friday, April 10th. The Goldman Sachs Group set a $16.00 target price on shares of Perella Weinberg Partners in a report on Friday, June 12th. Finally, Weiss Ratings raised shares of Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.62.

Perella Weinberg Partners Stock Down 7.9%

The company has a market capitalization of $1.40 billion, a P/E ratio of 62.58 and a beta of 1.65. The business has a fifty day moving average price of $17.33 and a 200 day moving average price of $18.75.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). Perella Weinberg Partners had a net margin of 2.82% and a negative return on equity of 19.90%. The firm had revenue of $148.92 million during the quarter, compared to analyst estimates of $158.82 million.

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, June 1st. Perella Weinberg Partners’s payout ratio is currently 116.67%.

Insider Buying and Selling

In other Perella Weinberg Partners news, CFO Alexandra Gottschalk sold 51,671 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $19.74, for a total transaction of $1,019,985.54. Following the sale, the chief financial officer directly owned 72,492 shares of the company’s stock, valued at $1,430,992.08. The trade was a 41.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 109,477 shares of company stock worth $2,034,533 in the last ninety days. Corporate insiders own 26.10% of the company’s stock.

Institutional Trading of Perella Weinberg Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC grew its stake in Perella Weinberg Partners by 10.6% in the fourth quarter. William Blair Investment Management LLC now owns 3,946,163 shares of the company’s stock valued at $68,269,000 after purchasing an additional 379,652 shares in the last quarter. Vanguard Group Inc. increased its holdings in Perella Weinberg Partners by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 3,722,756 shares of the company’s stock worth $64,404,000 after buying an additional 241,363 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Perella Weinberg Partners by 73.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company’s stock worth $60,911,000 after buying an additional 1,328,312 shares during the last quarter. Nuveen LLC raised its position in Perella Weinberg Partners by 29.2% during the fourth quarter. Nuveen LLC now owns 2,861,405 shares of the company’s stock worth $49,502,000 after acquiring an additional 646,143 shares in the last quarter. Finally, State Street Corp lifted its stake in Perella Weinberg Partners by 2.2% in the fourth quarter. State Street Corp now owns 1,798,302 shares of the company’s stock valued at $31,111,000 after acquiring an additional 39,544 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

About Perella Weinberg Partners

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.