Perella Weinberg Partners (NASDAQ:PWP) Price Target Lowered to $27.00 at Keefe, Bruyette & Woods

Perella Weinberg Partners (NASDAQ:PWP) had its price objective dropped by equities research analysts at Keefe, Bruyette & Woods from $28.00 to $27.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 18.94% from the company’s previous close.

Separately, JMP Securities raised their target price on Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th.

Perella Weinberg Partners Stock Up 2.4 %

Shares of NASDAQ PWP traded up $0.53 during midday trading on Tuesday, reaching $22.70. The company had a trading volume of 103,230 shares, compared to its average volume of 660,961. The firm’s fifty day moving average price is $24.49 and its 200-day moving average price is $20.90. Perella Weinberg Partners has a one year low of $10.73 and a one year high of $26.62. The stock has a market cap of $2.00 billion, a PE ratio of -9.58 and a beta of 1.58.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The firm had revenue of $278.20 million during the quarter, compared to analyst estimates of $196.42 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The business’s quarterly revenue was up 100.1% compared to the same quarter last year.

Insider Activity

In related news, CEO Andrew Bednar sold 300,579 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the completion of the transaction, the chief executive officer now owns 566,386 shares of the company’s stock, valued at $13,865,129.28. This trade represents a 34.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Dietrich Becker sold 442,889 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total value of $10,841,922.72. Following the completion of the sale, the president now directly owns 379,140 shares in the company, valued at $9,281,347.20. This trade represents a 53.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 43.53% of the stock is currently owned by company insiders.

Institutional Trading of Perella Weinberg Partners

A number of institutional investors and hedge funds have recently bought and sold shares of PWP. Charles Schwab Investment Management Inc. grew its holdings in shares of Perella Weinberg Partners by 197.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock valued at $8,381,000 after buying an additional 288,186 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in Perella Weinberg Partners during the 2nd quarter valued at $35,715,000. JPMorgan Chase & Co. increased its holdings in shares of Perella Weinberg Partners by 49.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 435,922 shares of the company’s stock worth $8,418,000 after purchasing an additional 144,222 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Perella Weinberg Partners by 2.8% in the third quarter. Geode Capital Management LLC now owns 1,257,620 shares of the company’s stock worth $24,289,000 after purchasing an additional 34,301 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Perella Weinberg Partners by 72.6% in the third quarter. Harbor Capital Advisors Inc. now owns 49,728 shares of the company’s stock worth $960,000 after purchasing an additional 20,923 shares during the last quarter. 41.07% of the stock is currently 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.