Perella Weinberg Partners (NASDAQ:PWP) Price Target Raised to $29.00

Perella Weinberg Partners (NASDAQ:PWPGet Free Report) had its price target upped by Keefe, Bruyette & Woods from $27.00 to $29.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 18.90% from the stock’s previous close.

Perella Weinberg Partners Price Performance

Perella Weinberg Partners stock opened at $24.39 on Monday. Perella Weinberg Partners has a 1-year low of $11.68 and a 1-year high of $27.03. The business has a fifty day moving average price of $24.65 and a 200-day moving average price of $22.03. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -10.29 and a beta of 1.59.

Perella Weinberg Partners (NASDAQ:PWPGet Free Report) last issued its quarterly earnings results on Friday, February 7th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%.

Insiders Place Their Bets

In related news, CEO Andrew Bednar sold 300,579 shares of Perella Weinberg Partners stock in a transaction dated 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 sale, the chief executive officer now owns 566,386 shares of the company’s stock, valued at $13,865,129.28. The trade was a 34.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Dietrich Becker sold 442,889 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 owns 379,140 shares in the company, valued at approximately $9,281,347.20. This represents a 53.88 % decrease in their position. The disclosure for this sale can be found here. 43.53% of the stock is owned by insiders.

Institutional Trading of Perella Weinberg Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in PWP. Channing Capital Management LLC purchased a new stake in shares of Perella Weinberg Partners in the fourth quarter worth about $16,207,000. AlphaQuest LLC lifted its holdings in Perella Weinberg Partners by 14,544.8% in the fourth quarter. AlphaQuest LLC now owns 28,411 shares of the company’s stock valued at $677,000 after acquiring an additional 28,217 shares during the period. Raymond James Financial Inc. purchased a new stake in Perella Weinberg Partners in the 4th quarter worth approximately $18,493,000. Aigen Investment Management LP acquired a new stake in shares of Perella Weinberg Partners during the 4th quarter worth approximately $311,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Perella Weinberg Partners by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 457,759 shares of the company’s stock valued at $10,913,000 after purchasing an additional 23,754 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

About Perella Weinberg Partners

(Get Free Report)

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.

Read More

Receive News & Ratings for Perella Weinberg Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perella Weinberg Partners and related companies with MarketBeat.com's FREE daily email newsletter.