Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Perella Weinberg Partners shares valued at $120,806 were sold by COHEN DANIEL G on Mar 10. At $9.06 per share, COHEN DANIEL G sold 13,334 shares. The insider’s holdings dropped to 538,282 shares worth approximately $4.94 million following the completion of this transaction.
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Also, COHEN DANIEL G sold 1,568 shares, netting a total of over 15,288 in proceeds. Following the sale of shares at $9.75 each, the insider now holds 544,949 shares.
Before that, COHEN DANIEL G had sold 23,450 shares from its account. In a trade valued at $234,734, the Director traded Perella Weinberg Partners shares for $10.01 each. Upon closing the transaction, the insider’s holdings decreased to 23,450 shares, worth approximately $5.01 million.
As published in a research note from Keefe Bruyette on September 26, 2022, Perella Weinberg Partners [PWP] has been rated down from an Outperform to a Mkt perform.
Analyzing PWP Stock Performance
On Wednesday, Perella Weinberg Partners [NASDAQ: PWP] rose 2.11% to $9.18. The stock’s lowest price that day was $8.69, but it reached a high of $9.21 in the same session. During the last five days, there has been a drop of approximately -7.83%. Over the course of the year, Perella Weinberg Partners shares have dropped approximately -6.33%. Shares of the company reached a 52-week high of $12.00 on 02/09/23 and a 52-week low of $8.69 on 03/15/23. A 50-day SMA is recorded $10.17, while a 200-day SMA reached $8.27. Nevertheless, trading volume fell to 0.71 million shares from 0.38 million shares the previous day.
Support And Resistance Levels for Perella Weinberg Partners (PWP)
According to the 24-hour chart, there is a support level at 8.84, which, if violated, would cause prices to drop to 8.51. In the upper region, resistance lies at 9.36. The next price resistance is at 9.55. RSI (Relative Strength Index) is 32.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.68, which suggests the price will decrease in the coming days. Percent R is at 70.12%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Perella Weinberg Partners subject to short interest?
Stocks of Perella Weinberg Partners saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.17 million shares to 1.2 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 1.37 million shares. A decline of -14.17% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.07 of the overall float, the days-to-cover ratio (short ratio) decline to 4.07.
Which companies own the most shares of Perella Weinberg Partners (PWP)?
According to Wellington Management Co. LLP filings, the company currently owns 4,699,636 shares, which is about 11.09% of the total PWP shares outstanding. The investor’s shares have plunged by -618,324 from its previous 13-F filing of 5317960.0 shares. With the completion of the sale transaction, Adage Capital Management LP’s stake is now worth $35,019,392. FIAM LLC acquire a 11.24% interest valued at $28.89 million while Fidelity Management & Research Co purchased a 1,779 stake. A total of -207,012 shares of Perella Weinberg Partners were bought by BlackRock Fund Advisors during the quarter, and 531,433 were bought by The Vanguard Group, Inc. In its current portfolio, Schroder Investment Management No holds 2,099,182 shares valued at $21.22 million.
In terms of Perella Weinberg Partners share price expectations, FactSet research, analysts set an average price target of $13.13 in the next 12 months, up nearly 30.7% from the previous closing price of $8.99. Analysts anticipate Perella Weinberg Partners stock to reach $18.00 by 2023, with the lowest price target being $11.00. In spite of this, 4 analysts ranked Perella Weinberg Partners stock as an Overweight at the end of 2023.