Perella Weinberg Partners (NASDAQ:PWP) Shares Gap Up – Still a Buy?

Perella Weinberg Partners (NASDAQ:PWP)’s share price gapped up before the market opened on Friday . The stock had previously closed at $23.88, but opened at $25.10. Perella Weinberg Partners shares last traded at $24.07, with a volume of 20,641 shares trading hands.

Wall Street Analysts Forecast Growth

PWP has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price target on Perella Weinberg Partners from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. JMP Securities raised their price objective on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th.

Perella Weinberg Partners Trading Up 0.2 %

The firm has a market capitalization of $2.05 billion, a P/E ratio of -8.29 and a beta of 1.49. The firm has a 50 day moving average price of $20.06 and a 200-day moving average price of $17.72.

Institutional Investors Weigh In On Perella Weinberg Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Perella Weinberg Partners by 122.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock worth $159,000 after purchasing an additional 5,379 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Perella Weinberg Partners by 16.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock worth $174,000 after purchasing an additional 1,753 shares during the period. Arizona State Retirement System increased its holdings in Perella Weinberg Partners by 15.3% during the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock worth $212,000 after purchasing an additional 1,724 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Perella Weinberg Partners by 27.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock worth $215,000 after purchasing an additional 3,237 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in Perella Weinberg Partners by 17.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock worth $272,000 after purchasing an additional 2,537 shares during the period. 41.07% of the stock is owned by institutional investors.

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.