Perella Weinberg Partners (NASDAQ:PWP) Downgraded to Hold Rating by Wall Street Zen

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

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

Perella Weinberg Partners Trading Down 0.6%

Shares of NASDAQ:PWP traded down $0.11 during trading on Friday, reaching $17.53. The stock had a trading volume of 624,139 shares, compared to its average volume of 638,433. The firm's 50-day simple moving average is $17.58 and its 200 day simple moving average is $21.73. Perella Weinberg Partners has a one year low of $13.82 and a one year high of $27.03. The company has a market capitalization of $1.55 billion, a P/E ratio of -11.09 and a beta of 1.69.

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

Hedge Funds Weigh In On Perella Weinberg Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new stake in shares of Perella Weinberg Partners in the first quarter worth $32,000. Quadrant Capital Group LLC boosted its holdings in Perella Weinberg Partners by 43.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company's stock valued at $37,000 after purchasing an additional 470 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Perella Weinberg Partners in the first quarter valued at $40,000. Venturi Wealth Management LLC acquired a new stake in Perella Weinberg Partners during the 4th quarter worth about $64,000. Finally, GAMMA Investing LLC grew its position in Perella Weinberg Partners by 2,401.3% during the 1st quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock worth $70,000 after purchasing an additional 3,674 shares during the period. Hedge funds and other institutional investors own 41.07% of the company's stock.

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.