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

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

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group upped their price target on Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a research note on Thursday, May 15th. JMP Securities cut their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, May 12th.

Perella Weinberg Partners Trading Down 2.1%

PWP traded down $0.42 during midday trading on Friday, hitting $19.32. 284,027 shares of the company traded hands, compared to its average volume of 707,228. The business has a 50 day simple moving average of $18.67 and a two-hundred day simple moving average of $20.19. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -44.95 and a beta of 1.66. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.21 by $0.07. Perella Weinberg Partners had a negative net margin of 1.17% and a negative return on equity of 36.47%. The firm had revenue of $211.83 million during the quarter, compared to analysts' expectations of $200.29 million. During the same period in the prior year, the company earned ($0.10) EPS.

Hedge Funds Weigh In On Perella Weinberg Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc acquired a new position in shares of Perella Weinberg Partners during the 1st quarter worth approximately $32,000. Quadrant Capital Group LLC boosted its position in Perella Weinberg Partners by 43.9% during the 4th 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 period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Perella Weinberg Partners during the first quarter worth $40,000. GAMMA Investing LLC raised its position in Perella Weinberg Partners by 2,401.3% during the first quarter. GAMMA Investing LLC now owns 3,827 shares of the company's stock valued at $70,000 after acquiring an additional 3,674 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Perella Weinberg Partners during the first quarter worth $118,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

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.