Wall Street Zen Upgrades Perella Weinberg Partners (NASDAQ:PWP) to Hold

Perella Weinberg Partners (NASDAQ:PWP) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Perella Weinberg Partners from $21.00 to $19.00 and set a “market perform” rating for the company in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a report on Wednesday, October 8th. One equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.00.

Perella Weinberg Partners Price Performance

Shares of PWP opened at $18.63 on Friday. Perella Weinberg Partners has a 12 month low of $14.12 and a 12 month high of $27.03. The stock has a fifty day moving average price of $19.07 and a 200 day moving average price of $19.92. The company has a market cap of $1.65 billion, a P/E ratio of 28.23 and a beta of 1.63.

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

Institutional Trading of Perella Weinberg Partners

Several institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. raised 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 worth $16,187,000 after buying an additional 104,035 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Perella Weinberg Partners by 150.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 40,411 shares of the company’s stock worth $743,000 after buying an additional 24,291 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of Perella Weinberg Partners in the second quarter worth approximately $28,019,000. Geode Capital Management LLC raised its holdings in shares of Perella Weinberg Partners by 10.9% during the second quarter. Geode Capital Management LLC now owns 1,490,650 shares of the company’s stock valued at $28,952,000 after acquiring an additional 146,352 shares during the period. Finally, Ceredex Value Advisors LLC lifted its position in shares of Perella Weinberg Partners by 22.7% in the 2nd quarter. Ceredex Value Advisors LLC now owns 428,541 shares of the company’s stock valued at $8,322,000 after acquiring an additional 79,263 shares in the last quarter. 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.