Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Perella Weinberg Partners (NASDAQ:PWP) Stock

Key Points

• Keefe, Bruyette & Woods raised its price target for Perella Weinberg Partners (NASDAQ:PWP) from $23.00 to $24.00, indicating a potential upside of 7.33% from the previous close.
• Shares of PWP experienced a boost, trading up to $22.36, with a 12-month range between $14.12 and $27.03.
• At its last earnings report, Perella Weinberg Partners missed analysts' expectations with earnings per share of $0.09, below the consensus estimate of $0.16.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) had its price target lifted by equities research analysts at Keefe, Bruyette & Woods from $23.00 to $24.00 in a report released on Monday,Benzinga reports. The firm currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 7.33% from the company's previous close.

Several other analysts also recently weighed in on PWP. The Goldman Sachs Group lifted their target price on Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a research report on Thursday, May 15th. Wall Street Zen downgraded Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, JMP Securities reduced their price objective on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th.

Perella Weinberg Partners Price Performance

Shares of NASDAQ:PWP traded up $1.39 during trading on Monday, hitting $22.36. The company's stock had a trading volume of 742,528 shares, compared to its average volume of 936,618. The company has a 50-day moving average of $19.24 and a 200-day moving average of $19.88. Perella Weinberg Partners has a 12 month low of $14.12 and a 12 month high of $27.03. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 27.32 and a beta of 1.66.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.07). Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 25.25%. The company had revenue of $155.27 million for the quarter, compared to analysts' expectations of $188.06 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PWP. Quadrant Capital Group LLC boosted its position in Perella Weinberg Partners by 43.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company's stock worth $37,000 after purchasing an additional 470 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Perella Weinberg Partners by 1.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,403 shares of the company's stock worth $701,000 after buying an additional 518 shares during the period. Ancora Advisors LLC boosted its position in shares of Perella Weinberg Partners by 0.4% in the fourth quarter. Ancora Advisors LLC now owns 203,446 shares of the company's stock worth $4,850,000 after buying an additional 830 shares during the period. US Bancorp DE boosted its holdings in Perella Weinberg Partners by 5.8% in the first quarter. US Bancorp DE now owns 18,623 shares of the company's stock valued at $343,000 after purchasing an additional 1,021 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in Perella Weinberg Partners by 5.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,480 shares of the company's stock valued at $774,000 after buying an additional 1,692 shares in the last quarter. 41.07% of the stock is currently owned by hedge funds and other 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.

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