Perella Weinberg Partners (NASDAQ:PWP) Upgraded to “Buy” at Wall Street Zen

Perella Weinberg Partners (NASDAQ:PWP) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other equities research analysts also recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a “sell” rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods cut their price target on Perella Weinberg Partners from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, May 12th. Finally, JMP Securities lowered their price objective on Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 8th.

Perella Weinberg Partners Stock Down 5.8%

Shares of NASDAQ:PWP opened at $17.64 on Friday. Perella Weinberg Partners has a twelve month low of $13.98 and a twelve month high of $27.03. The stock’s 50 day moving average is $17.43 and its 200-day moving average is $20.96. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -11.16 and a beta of 1.65.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.07. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. The business had revenue of $211.83 million during the quarter, compared to analyst estimates of $200.29 million. During the same quarter in the previous year, the business posted ($0.10) EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its stake in shares of Perella Weinberg Partners by 2.7% during the 1st quarter. Rhumbline Advisers now owns 72,801 shares of the company’s stock worth $1,340,000 after purchasing an additional 1,940 shares during the period. Strs Ohio purchased a new stake in Perella Weinberg Partners during the first quarter worth about $605,000. Jane Street Group LLC purchased a new stake in Perella Weinberg Partners during the first quarter worth about $2,577,000. Dynamic Technology Lab Private Ltd raised its position in 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 acquiring an additional 24,291 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Perella Weinberg Partners by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company’s stock valued at $566,000 after acquiring an additional 1,342 shares during the last quarter. Hedge funds and other institutional investors 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.