Wall Street Zen Upgrades Perella Weinberg Partners (NASDAQ:PWP) to Buy

Perella Weinberg Partners (NASDAQ:PWP) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other analysts also recently weighed in on the company. Weiss Ratings downgraded Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $21.00 price objective (up from $19.00) on shares of Perella Weinberg Partners in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group raised their target price on Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Perella Weinberg Partners Price Performance

Shares of NASDAQ:PWP opened at $16.61 on Friday. The company has a market cap of $1.56 billion, a P/E ratio of 63.89 and a beta of 1.64. Perella Weinberg Partners has a 52 week low of $14.11 and a 52 week high of $25.92. The company has a 50-day moving average price of $16.23 and a 200 day moving average price of $17.96.

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

Insider Activity

In other news, CEO Andrew Bednar sold 77,753 shares of Perella Weinberg Partners stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $17.41, for a total transaction of $1,353,679.73. Following the completion of the sale, the chief executive officer directly owned 1,061,260 shares in the company, valued at approximately $18,476,536.60. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 235,697 shares of company stock worth $4,080,379. 26.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Perella Weinberg Partners

Several hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in Perella Weinberg Partners during the fourth quarter worth $45,000. Torren Management LLC acquired a new stake in Perella Weinberg Partners in the fourth quarter valued at $62,000. Kemnay Advisory Services Inc. purchased a new position in shares of Perella Weinberg Partners in the fourth quarter valued at $86,000. Tower Research Capital LLC TRC raised its stake in shares of Perella Weinberg Partners by 460.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock worth $100,000 after buying an additional 4,232 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Perella Weinberg Partners by 24.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock worth $124,000 after buying an additional 1,338 shares during 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.