Perella Weinberg Partners (NASDAQ:PWP) Shares Gap Up – Here’s Why

Perella Weinberg Partners (NASDAQ:PWPGet Free Report) gapped up before the market opened on Friday . The stock had previously closed at $21.53, but opened at $23.69. Perella Weinberg Partners shares last traded at $21.9150, with a volume of 102,477 shares.

Trending Headlines about Perella Weinberg Partners

Here are the key news stories impacting Perella Weinberg Partners this week:

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a “sell” rating and set a $19.00 price objective on shares of Perella Weinberg Partners in a report on Tuesday, January 20th. Wall Street Zen cut Perella Weinberg Partners from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Weiss Ratings restated a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on Perella Weinberg Partners from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Finally, Wolfe Research set a $21.00 price target on shares of Perella Weinberg Partners in a report on Wednesday, January 7th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.25.

Get Our Latest Research Report on Perella Weinberg Partners

Perella Weinberg Partners Price Performance

The stock’s 50-day moving average is $19.36 and its two-hundred day moving average is $20.13. The company has a market cap of $2.02 billion, a P/E ratio of 34.39 and a beta of 1.64.

Perella Weinberg Partners (NASDAQ:PWPGet Free Report) last posted its quarterly earnings data on Friday, February 6th. The company reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Perella Weinberg Partners had a negative return on equity of 21.55% and a net margin of 6.15%.The firm had revenue of $219.16 million during the quarter, compared to analyst estimates of $192.84 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Westwood Holdings Group Inc. purchased a new position in Perella Weinberg Partners during the 2nd quarter worth $28,019,000. Adage Capital Partners GP L.L.C. increased its position in Perella Weinberg Partners by 73.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company’s stock valued at $60,911,000 after buying an additional 1,328,312 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Perella Weinberg Partners by 57.2% in the 3rd quarter. William Blair Investment Management LLC now owns 3,566,511 shares of the company’s stock valued at $76,038,000 after purchasing an additional 1,298,246 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Perella Weinberg Partners by 79.6% during the second quarter. Ameriprise Financial Inc. now owns 1,575,063 shares of the company’s stock valued at $30,588,000 after buying an additional 698,021 shares during the last quarter. Finally, Walleye Capital LLC grew its stake in Perella Weinberg Partners by 82.7% during the 2nd quarter. Walleye Capital LLC now owns 1,372,866 shares of the company’s stock valued at $26,661,000 after purchasing an additional 621,570 shares during the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Company Profile

(Get Free Report)

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.

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