Perella Weinberg Partners (NASDAQ:PWP) Price Target Raised to $23.50

Perella Weinberg Partners (NASDAQ:PWP) had its price objective increased by analysts at Keefe, Bruyette & Woods from $21.00 to $23.50 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 14.02% from the stock’s previous close.

PWP has been the subject of several other research reports. Wolfe Research set a $21.00 price target on shares of Perella Weinberg Partners in a research report on Wednesday, January 7th. 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 reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a research report on Tuesday, April 21st. Citizens Jmp dropped their price target on shares of Perella Weinberg Partners from $32.00 to $30.00 and set a “market outperform” rating for the company in a research report on Friday, April 10th. Finally, The Goldman Sachs Group increased their price target on shares of Perella Weinberg Partners from $17.50 to $19.50 and gave the company a “sell” rating in a research report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.50.

Perella Weinberg Partners Stock Performance

PWP stock opened at $20.61 on Monday. The firm has a market cap of $1.89 billion, a P/E ratio of 85.88 and a beta of 1.74. The firm’s fifty day moving average is $18.96 and its 200 day moving average is $19.28. Perella Weinberg Partners has a 52 week low of $15.74 and a 52 week high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.11). The firm had revenue of $148.92 million for the quarter, compared to analysts’ expectations of $158.82 million. Perella Weinberg Partners had a net margin of 2.82% and a negative return on equity of 18.01%.

Institutional Investors Weigh In On Perella Weinberg Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Emerald Advisers LLC lifted its position in shares of Perella Weinberg Partners by 41.4% in the 3rd quarter. Emerald Advisers LLC now owns 803,654 shares of the company’s stock worth $17,134,000 after purchasing an additional 235,448 shares during the period. Penn Capital Management Company LLC increased its stake in shares of Perella Weinberg Partners by 18.4% in the 3rd quarter. Penn Capital Management Company LLC now owns 690,318 shares of the company’s stock worth $14,733,000 after acquiring an additional 107,508 shares in the last quarter. Lighthouse Investment Partners LLC bought a new position in shares of Perella Weinberg Partners in the 3rd quarter worth about $4,435,000. First Eagle Investment Management LLC increased its stake in shares of Perella Weinberg Partners by 15.2% in the 3rd quarter. First Eagle Investment Management LLC now owns 467,792 shares of the company’s stock worth $9,973,000 after acquiring an additional 61,714 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of Perella Weinberg Partners by 25.3% in the 3rd quarter. Royce & Associates LP now owns 1,163,300 shares of the company’s stock worth $24,802,000 after acquiring an additional 234,907 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other 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.