Perella Weinberg Partners (NASDAQ:PWP) Upgraded by Keefe, Bruyette & Woods to “Outperform” Rating

Keefe, Bruyette & Woods upgraded shares of Perella Weinberg Partners (NASDAQ:PWP) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $21.00 price objective on the stock, down from their previous price objective of $23.00.

A number of other analysts also recently weighed in on the stock. 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 for the company in a research report on Thursday, March 12th. Wall Street Zen raised shares of Perella Weinberg Partners from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings restated a “hold (c)” rating on shares of Perella Weinberg Partners in a report on Thursday, January 22nd. Finally, Wolfe Research set a $21.00 price target on Perella Weinberg Partners in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.17.

Perella Weinberg Partners Stock Performance

NASDAQ:PWP opened at $19.23 on Wednesday. The company has a market capitalization of $1.77 billion, a PE ratio of 41.81 and a beta of 1.66. The company has a 50 day simple moving average of $19.20 and a two-hundred day simple moving average of $19.22. Perella Weinberg Partners has a fifty-two week low of $14.74 and a fifty-two week high of $25.92.

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, meeting analysts’ consensus estimates of $0.17. The business had revenue of $219.16 million during the quarter, compared to the consensus estimate of $192.84 million. Perella Weinberg Partners had a net margin of 4.69% and a negative return on equity of 25.81%.

Perella Weinberg Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, February 17th. Perella Weinberg Partners’s dividend payout ratio is presently 60.87%.

Hedge Funds Weigh In On Perella Weinberg Partners

A number of institutional investors and hedge funds have recently modified their holdings of PWP. Westwood Holdings Group Inc. bought a new position in shares of Perella Weinberg Partners during the 2nd quarter worth approximately $28,019,000. Adage Capital Partners GP L.L.C. boosted its holdings 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 worth $60,911,000 after buying an additional 1,328,312 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Perella Weinberg Partners by 57.2% in the 3rd quarter. William Blair Investment Management LLC now owns 3,566,511 shares of the company’s stock worth $76,038,000 after purchasing an additional 1,298,246 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Perella Weinberg Partners by 79.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,575,063 shares of the company’s stock worth $30,588,000 after purchasing an additional 698,021 shares in the last quarter. Finally, Nuveen LLC lifted its holdings in shares of Perella Weinberg Partners by 29.2% in the 4th quarter. Nuveen LLC now owns 2,861,405 shares of the company’s stock worth $49,502,000 after purchasing an additional 646,143 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors.

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.