Perella Weinberg Partners (NASDAQ:PWP) Given New $21.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Perella Weinberg Partners' price target has been decreased from $24.00 to $21.00 by Keefe, Bruyette & Woods, reflecting a potential upside of 12.57% from the current price.
• The company's quarterly earnings showed an EPS of $0.09, missing the consensus estimate of $0.16, alongside revenues of $155.27 million compared to the expected $188.06 million.
• Insider activity includes the president selling 177,553 shares of stock, significantly reducing their ownership by 32.52%, which raises concerns regarding insider confidence.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) had its target price decreased by research analysts at Keefe, Bruyette & Woods from $24.00 to $21.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target suggests a potential upside of 12.57% from the company's current price.

Several other brokerages also recently commented on PWP. Wall Street Zen downgraded shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Weiss Ratings restated a "hold (c)" rating on shares of Perella Weinberg Partners in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $22.67.

Perella Weinberg Partners Trading Up 0.1%

Shares of NASDAQ:PWP traded up $0.02 during trading on Monday, reaching $18.66. 357,203 shares of the stock were exchanged, compared to its average volume of 961,069. The firm has a market cap of $1.63 billion, a PE ratio of 22.73 and a beta of 1.65. The stock has a 50-day moving average price of $21.73 and a 200-day moving average price of $19.50. Perella Weinberg Partners has a 12 month low of $14.12 and a 12 month high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.07). The company had revenue of $155.27 million during the quarter, compared to the consensus estimate of $188.06 million. Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 26.14%.

Insider Activity at Perella Weinberg Partners

In other news, President Dietrich Becker sold 177,553 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $22.20, for a total value of $3,941,676.60. Following the completion of the sale, the president directly owned 368,469 shares in the company, valued at $8,180,011.80. This trade represents a 32.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 31.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Perella Weinberg Partners

Several large investors have recently made changes to their positions in PWP. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Perella Weinberg Partners in the 1st quarter valued at about $40,000. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 3,674 shares during the period. CWM LLC grew its stake in shares of Perella Weinberg Partners by 162.4% in the 2nd quarter. CWM LLC now owns 3,936 shares of the company's stock valued at $76,000 after buying an additional 2,436 shares during the period. New York State Teachers Retirement System bought a new position in Perella Weinberg Partners in the 2nd quarter valued at about $92,000. Finally, Tower Research Capital LLC TRC lifted its position in Perella Weinberg Partners by 460.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company's stock valued at $100,000 after acquiring an additional 4,232 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

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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