Perella Weinberg Partners (NASDAQ:PWP) Stock Rating Lowered by Keefe, Bruyette & Woods

Perella Weinberg Partners (NASDAQ:PWP) was downgraded by Keefe, Bruyette & Woods from a “moderate buy” rating to a “hold” rating in a note issued to investors on Monday, Marketbeat reports. They presently have a $23.00 price target on the stock, up from their prior price target of $22.00. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 16.51% from the stock’s previous close.

Several other analysts have also weighed in on PWP. JMP Securities reduced their price objective on Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group boosted their price target on Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a “sell” rating in a report on Thursday, May 15th. Finally, Wall Street Zen lowered shares of Perella Weinberg Partners from a “buy” rating to a “hold” rating in a report on Saturday.

Perella Weinberg Partners Stock Performance

NASDAQ:PWP opened at $19.74 on Monday. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $27.03. The stock has a 50-day simple moving average of $18.67 and a 200 day simple moving average of $20.19. The company has a market cap of $1.74 billion, a PE ratio of -45.91 and a beta of 1.66.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.07. The firm had revenue of $211.83 million for the quarter, compared to analyst estimates of $200.29 million. Perella Weinberg Partners had a negative return on equity of 36.47% and a negative net margin of 1.17%. During the same quarter in the prior year, the company earned ($0.10) earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in Perella Weinberg Partners in the 4th quarter worth about $413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Perella Weinberg Partners by 21.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,898 shares of the company’s stock valued at $2,191,000 after acquiring an additional 16,057 shares during the period. Barclays PLC grew its stake in Perella Weinberg Partners by 8.7% during the fourth quarter. Barclays PLC now owns 202,517 shares of the company’s stock valued at $4,828,000 after acquiring an additional 16,130 shares in the last quarter. Deutsche Bank AG grew its stake in Perella Weinberg Partners by 53.6% during the fourth quarter. Deutsche Bank AG now owns 45,179 shares of the company’s stock valued at $1,077,000 after acquiring an additional 15,763 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Perella Weinberg Partners by 49.6% during the 4th quarter. Millennium Management LLC now owns 180,031 shares of the company’s stock worth $4,292,000 after acquiring an additional 59,672 shares during the period. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Company Profile

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.