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

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 report issued to clients and investors on Saturday.

A number of other research analysts have also recently commented on PWP. The Goldman Sachs Group boosted their price target on Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a report on Thursday, May 15th. JMP Securities decreased their price objective 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 decreased their price objective on Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, May 12th.

Perella Weinberg Partners Stock Down 3.6%

NASDAQ PWP traded down $0.75 during trading hours on Friday, reaching $20.00. The company's stock had a trading volume of 1,266,355 shares, compared to its average volume of 709,665. The firm's 50-day moving average price is $18.61 and its 200-day moving average price is $20.28. Perella Weinberg Partners has a 1 year low of $14.12 and a 1 year high of $27.03. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -46.51 and a beta of 1.66.

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

Hedge Funds Weigh In On Perella Weinberg Partners

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc bought a new position in Perella Weinberg Partners in the 1st quarter valued at $32,000. Quadrant Capital Group LLC grew its position in Perella Weinberg Partners by 43.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company's stock valued at $37,000 after acquiring an additional 470 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Perella Weinberg Partners in the 1st quarter valued at $40,000. GAMMA Investing LLC grew its position in Perella Weinberg Partners by 2,401.3% in the 1st 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 during the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Perella Weinberg Partners in the 1st quarter valued at $118,000. 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.