Perella Weinberg Partners (NASDAQ:PWP) Rating Increased to Outperform at Keefe, Bruyette & Woods

Perella Weinberg Partners (NASDAQ:PWP) was upgraded by investment analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a $21.00 price objective on the stock, down from their prior price objective of $23.00. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 17.45% from the company’s current price.

A number of other research analysts have also weighed in on PWP. Weiss Ratings reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Perella Weinberg Partners from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. The Goldman Sachs Group decreased their target price on shares of Perella Weinberg Partners from $21.50 to $18.50 and set a “sell” rating on the stock in a research note on Thursday, March 12th. Finally, Wolfe Research set a $21.00 target price on shares of Perella Weinberg Partners in a research note on Wednesday, January 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.17.

Perella Weinberg Partners Price Performance

PWP opened at $17.88 on Wednesday. The company’s 50 day simple moving average is $19.27 and its two-hundred day simple moving average is $19.22. Perella Weinberg Partners has a 1-year low of $14.74 and a 1-year high of $25.92. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 38.87 and a beta of 1.66.

Perella Weinberg Partners (NASDAQ:PWP) last released its earnings results on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. Perella Weinberg Partners had a net margin of 4.69% and a negative return on equity of 25.81%. The business had revenue of $219.16 million for the quarter, compared to analyst estimates of $192.84 million.

Institutional Trading of Perella Weinberg Partners

Several institutional investors have recently made changes to their positions in PWP. Westwood Holdings Group Inc. purchased a new stake in shares of Perella Weinberg Partners during the 2nd quarter valued at approximately $28,019,000. Adage Capital Partners GP L.L.C. raised its position in shares of 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 during the period. William Blair Investment Management LLC raised its position in shares of Perella Weinberg Partners by 57.2% during 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 buying an additional 1,298,246 shares during the period. Ameriprise Financial Inc. raised its position in shares of Perella Weinberg Partners by 79.6% during the 2nd 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 period. Finally, Nuveen LLC raised its position in shares of Perella Weinberg Partners by 29.2% during the 4th quarter. Nuveen LLC now owns 2,861,405 shares of the company’s stock valued at $49,502,000 after buying an additional 646,143 shares during the period. Hedge funds and other institutional investors 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.