Perella Weinberg Partners (NASDAQ:PWP) Price Target Raised to $20.00

Perella Weinberg Partners (NASDAQ:PWP) had its price target boosted by stock analysts at Keefe, Bruyette & Woods from $19.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 11.51% from the company’s current price.

A number of other analysts also recently commented on PWP. Wall Street Zen downgraded Perella Weinberg Partners from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.33.

Perella Weinberg Partners Stock Down 0.2%

Shares of PWP stock traded down $0.04 during trading hours on Wednesday, hitting $17.94. 318,173 shares of the company were exchanged, compared to its average volume of 953,732. The firm has a fifty day moving average of $18.66 and a 200 day moving average of $19.97. Perella Weinberg Partners has a 1 year low of $14.12 and a 1 year high of $27.03. The firm has a market cap of $1.59 billion, a PE ratio of 27.17 and a beta of 1.63.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $164.65 million for the quarter, compared to analyst estimates of $179.83 million. Perella Weinberg Partners had a negative return on equity of 21.55% and a net margin of 6.15%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PWP. Charles Schwab Investment Management Inc. boosted its holdings in Perella Weinberg Partners by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 461,673 shares of the company’s stock worth $8,495,000 after acquiring an additional 3,914 shares during the period. Deutsche Bank AG lifted its position in shares of Perella Weinberg Partners by 235.5% during the first quarter. Deutsche Bank AG now owns 151,595 shares of the company’s stock worth $2,789,000 after purchasing an additional 106,416 shares in the last quarter. Swiss National Bank lifted its position in shares of Perella Weinberg Partners by 2.6% during the first quarter. Swiss National Bank now owns 102,600 shares of the company’s stock worth $1,888,000 after purchasing an additional 2,600 shares in the last quarter. Nuveen LLC purchased a new position in shares of Perella Weinberg Partners in the first quarter valued at $2,218,000. Finally, Raymond James Financial Inc. grew its holdings in Perella Weinberg Partners by 13.4% during the 1st quarter. Raymond James Financial Inc. now owns 879,745 shares of the company’s stock valued at $16,187,000 after purchasing an additional 104,035 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

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.