Perella Weinberg Partners (NASDAQ:PWP) Stock Rating Lowered by Wall Street Zen

Perella Weinberg Partners (NASDAQ:PWP) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also weighed in on PWP. The Goldman Sachs Group boosted their target price on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $21.00 price target (up from $19.00) on shares of Perella Weinberg Partners in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Perella Weinberg Partners presently has an average rating of “Hold” and an average target price of $22.00.

Perella Weinberg Partners Stock Performance

NASDAQ PWP opened at $15.82 on Friday. The stock’s fifty day moving average is $15.90 and its two-hundred day moving average is $17.01. The firm has a market capitalization of $1.49 billion, a P/E ratio of 60.85 and a beta of 1.63. Perella Weinberg Partners has a fifty-two week low of $12.52 and a fifty-two week high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.14. Perella Weinberg Partners had a negative return on equity of 35.84% and a net margin of 3.19%.The business had revenue of $156.53 million during the quarter, compared to the consensus estimate of $144.76 million.

Insider Buying and Selling at Perella Weinberg Partners

In related news, CEO Andrew Bednar sold 80,045 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $17.17, for a total transaction of $1,374,372.65. Following the completion of the transaction, the chief executive officer owned 1,139,013 shares of the company’s stock, valued at approximately $19,556,853.21. This trade represents a 6.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 235,697 shares of company stock worth $4,080,379. Company insiders own 26.10% of the company’s stock.

Institutional Trading of Perella Weinberg Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Perella Weinberg Partners by 32.2% during the second quarter. Wellington Management Group LLP now owns 5,189,199 shares of the company’s stock worth $82,820,000 after purchasing an additional 1,263,345 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Perella Weinberg Partners by 41.6% in the first quarter. Bank of America Corp DE now owns 1,316,482 shares of the company’s stock valued at $23,907,000 after buying an additional 386,473 shares in the last quarter. Emerald Advisers LLC grew its stake in shares of Perella Weinberg Partners by 3.2% in the first quarter. Emerald Advisers LLC now owns 1,019,869 shares of the company’s stock valued at $18,521,000 after buying an additional 31,163 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Perella Weinberg Partners by 45.8% in the first quarter. Dimensional Fund Advisors LP now owns 852,987 shares of the company’s stock valued at $15,488,000 after buying an additional 267,859 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of Perella Weinberg Partners by 14.9% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 621,774 shares of the company’s stock valued at $11,291,000 after buying an additional 80,490 shares during the period. Hedge funds and other institutional investors own 41.07% of the company’s stock.

About Perella Weinberg Partners

Perella Weinberg Partners (NASDAQ:PWP) is an independent global financial services firm that provides strategic and financial advice to corporations, financial sponsors, governments and other institutions. The company operates primarily through its advisory business, helping clients address complex transactions and corporate finance matters.

Its services include mergers and acquisitions, divestitures, strategic alternatives, capital solutions, shareholder activism defense and other corporate advisory assignments.