Perella Weinberg Partners (NASDAQ:PWP) Sets New 52-Week High – Should You Buy?

Shares of Perella Weinberg Partners (NASDAQ:PWP) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.33 and last traded at $23.33, with a volume of 1126 shares traded. The stock had previously closed at $21.08.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PWP shares. Keefe, Bruyette & Woods boosted 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 lifted their price objective on shares of 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 Stock Down 4.0 %

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PWP. Royce & Associates LP lifted its stake in Perella Weinberg Partners by 14.3% in the 3rd quarter. Royce & Associates LP now owns 1,179,111 shares of the company’s stock worth $22,769,000 after purchasing an additional 147,424 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings 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 valued at $960,000 after purchasing an additional 20,923 shares during the last quarter. US Bancorp DE purchased a new position in Perella Weinberg Partners during the third quarter worth approximately $325,000. SG Americas Securities LLC acquired a new position in Perella Weinberg Partners during the third quarter worth $406,000. Finally, Nantahala Capital Management LLC grew its holdings in Perella Weinberg Partners by 166.1% in the 2nd quarter. Nantahala Capital Management LLC now owns 265,474 shares of the company’s stock valued at $4,314,000 after buying an additional 165,696 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, 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.