Perella Weinberg Partners (NASDAQ:PWP) Cut to "Hold" at Wall Street Zen

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

PWP has been the topic of several other research reports. The Goldman Sachs Group increased their target price on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research note on Thursday, May 15th. Keefe, Bruyette & Woods lowered their price target on Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, May 12th. Finally, JMP Securities lowered their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th.

Perella Weinberg Partners Price Performance

Shares of PWP stock traded up $0.16 during trading hours on Friday, hitting $17.79. 415,303 shares of the company's stock were exchanged, compared to its average volume of 639,577. The stock's 50-day moving average is $17.41 and its 200-day moving average is $21.58. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -11.26 and a beta of 1.69. Perella Weinberg Partners has a 52 week low of $13.82 and a 52 week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.07. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. The business had revenue of $211.83 million for the quarter, compared to analyst estimates of $200.29 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PWP. Wellington Management Group LLP lifted its position in shares of Perella Weinberg Partners by 128.6% during the 1st quarter. Wellington Management Group LLP now owns 3,009,484 shares of the company's stock worth $55,375,000 after buying an additional 1,692,922 shares during the last quarter. Channing Capital Management LLC grew its stake in Perella Weinberg Partners by 215.2% during the first quarter. Channing Capital Management LLC now owns 2,142,888 shares of the company's stock worth $39,429,000 after purchasing an additional 1,463,083 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in Perella Weinberg Partners by 124.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,808,172 shares of the company's stock worth $33,270,000 after acquiring an additional 1,002,387 shares in the last quarter. Raymond James Financial Inc. bought a new position in Perella Weinberg Partners in the fourth quarter worth approximately $18,493,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Perella Weinberg Partners by 402.6% in the first quarter. New York State Common Retirement Fund now owns 849,590 shares of the company's stock valued at $15,632,000 after purchasing an additional 680,563 shares in the last quarter. 41.07% of the stock is owned by institutional investors and hedge funds.

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.