Keefe, Bruyette & Woods Has Lowered Expectations for Perella Weinberg Partners (NASDAQ:PWP) Stock Price

Perella Weinberg Partners (NASDAQ:PWP) had its target price reduced by equities research analysts at Keefe, Bruyette & Woods from $21.00 to $19.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 1.20% from the stock’s previous close.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Perella Weinberg Partners in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.00.

Perella Weinberg Partners Stock Up 1.2%

Perella Weinberg Partners stock opened at $19.23 on Monday. The firm has a market cap of $1.68 billion, a P/E ratio of 29.14 and a beta of 1.63. The business has a fifty day moving average of $20.50 and a two-hundred day moving average of $19.93. Perella Weinberg Partners has a twelve month low of $14.12 and a twelve month high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last released 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 during the quarter, compared to the consensus estimate 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

Hedge funds have recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Perella Weinberg Partners during the first quarter worth $40,000. State of Alaska Department of Revenue purchased a new position in Perella Weinberg Partners in the 3rd quarter worth $53,000. CWM LLC lifted its position in Perella Weinberg Partners by 162.4% during the 2nd quarter. CWM LLC now owns 3,936 shares of the company’s stock worth $76,000 after acquiring an additional 2,436 shares during the period. New York State Teachers Retirement System purchased a new stake in Perella Weinberg Partners during the 2nd quarter valued at about $92,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Perella Weinberg Partners by 460.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock valued at $100,000 after purchasing an additional 4,232 shares during the period. Institutional investors and hedge funds own 41.07% of the company’s stock.

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.