Keefe, Bruyette & Woods Cuts Perella Weinberg Partners (NASDAQ:PWP) Price Target to $19.00

Key Points

• Keefe, Bruyette & Woods cut Perella Weinberg Partners’ price target to $19 from $23.50, while keeping an outperform rating. The new target still implies about 22.4% upside from the stock’s current price.
• Analyst sentiment is mixed overall: MarketBeat says PWP now has a consensus Hold rating with an average price target of $21.50. Other firms recently set targets ranging from $16 to $30.
• The company recently missed earnings estimates, reporting $0.05 EPS versus $0.16 expected, and $148.9 million in revenue versus $158.8 million expected. Shares opened at $15.52, near the stock’s one-year low of $14.54.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) had its price target cut by equities research analysts at Keefe, Bruyette & Woods from $23.50 to $19.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 22.42% from the stock's current price.

Other analysts have also issued reports about the company. Weiss Ratings raised Perella Weinberg Partners from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, June 9th. The Goldman Sachs Group set a $16.00 target price on shares of Perella Weinberg Partners in a report on Friday, June 12th. Finally, Citizens Jmp reduced their price target on shares of Perella Weinberg Partners from $32.00 to $30.00 and set a "market outperform" rating on the stock in a research note on Friday, April 10th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Perella Weinberg Partners presently has a consensus rating of "Hold" and an average price target of $21.50.

Perella Weinberg Partners Price Performance

Shares of PWP opened at $15.52 on Friday. The firm has a 50 day simple moving average of $17.06 and a two-hundred day simple moving average of $18.72. Perella Weinberg Partners has a one year low of $14.54 and a one year high of $25.92. The company has a market cap of $1.44 billion, a P/E ratio of 64.67 and a beta of 1.65.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.11). Perella Weinberg Partners had a net margin of 2.82% and a negative return on equity of 19.90%. The business had revenue of $148.92 million during the quarter, compared to analyst estimates of $158.82 million.

Insider Activity at Perella Weinberg Partners

In other news, CFO Alexandra Gottschalk sold 14,018 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $17.46, for a total transaction of $244,754.28. Following the sale, the chief financial officer directly owned 72,492 shares in the company, valued at approximately $1,265,710.32. The trade was a 16.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 109,477 shares of company stock worth $2,034,533 over the last quarter. Company insiders own 26.10% of the company's stock.

Institutional Investors Weigh In On Perella Weinberg Partners

Hedge funds have recently added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. increased its position in Perella Weinberg Partners by 73.5% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company's stock valued at $60,911,000 after acquiring an additional 1,328,312 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Perella Weinberg Partners by 79.6% during the second quarter. Ameriprise Financial Inc. now owns 1,575,063 shares of the company's stock worth $30,588,000 after purchasing an additional 698,021 shares during the period. Nuveen LLC grew its stake in shares of Perella Weinberg Partners by 29.2% in the fourth quarter. Nuveen LLC now owns 2,861,405 shares of the company's stock worth $49,502,000 after purchasing an additional 646,143 shares during the last quarter. Boston Partners grew its stake in shares of Perella Weinberg Partners by 82.5% in the fourth quarter. Boston Partners now owns 1,378,939 shares of the company's stock worth $23,860,000 after purchasing an additional 623,330 shares during the last quarter. Finally, Aristotle Capital Boston LLC acquired a new stake in Perella Weinberg Partners in the fourth quarter valued at $8,433,000. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Company Profile

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.

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