Perella Weinberg Partners (NASDAQ:PWP) Sees Large Volume Increase – Time to Buy?

Perella Weinberg Partners (NASDAQ:PWP) saw unusually-high trading volume on Tuesday . Approximately 633,018 shares traded hands during mid-day trading, an increase of 52% from the previous session’s volume of 416,411 shares.The stock last traded at $25.44 and had previously closed at $25.48.

Analyst Ratings Changes

Separately, JMP Securities boosted their price objective 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 Performance

The company has a market cap of $2.15 billion, a price-to-earnings ratio of -10.57 and a beta of 1.49. The company has a 50-day simple moving average of $20.54 and a 200-day simple moving average of $17.99.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. Perella Weinberg Partners had a positive return on equity of 80.95% and a negative net margin of 11.09%. The firm had revenue of $278.20 million for the quarter, compared to analyst estimates of $196.42 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. Perella Weinberg Partners’s quarterly revenue was up 100.1% on a year-over-year basis.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, December 4th. Perella Weinberg Partners’s payout ratio is currently -11.81%.

Institutional Investors Weigh In On Perella Weinberg Partners

A number of large investors have recently added to or reduced their stakes in the business. PEAK6 Investments LLC raised its position in shares of Perella Weinberg Partners by 96.8% during the 3rd quarter. PEAK6 Investments LLC now owns 65,768 shares of the company’s stock worth $1,270,000 after purchasing an additional 32,356 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of Perella Weinberg Partners by 358.4% in the third quarter. Quantbot Technologies LP now owns 37,516 shares of the company’s stock worth $724,000 after acquiring an additional 29,332 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Perella Weinberg Partners in the third quarter valued at $389,000. Algert Global LLC boosted its stake in shares of Perella Weinberg Partners by 7.2% during the third quarter. Algert Global LLC now owns 158,646 shares of the company’s stock valued at $3,063,000 after acquiring an additional 10,621 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in Perella Weinberg Partners by 32.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 756,540 shares of the company’s stock worth $14,609,000 after purchasing an additional 183,905 shares in the last quarter. 41.07% of the stock is 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.