Perella Weinberg Partners (NASDAQ:PWP) Price Target Cut to $30.00 by Analysts at Citizens Jmp

Key Points

• Citizens Jmp cut its price target for Perella Weinberg Partners to $30.00 (from $32.00) but kept a "market outperform" rating, implying a potential upside of 47.86% from the current price.
• Analyst views are mixed — two Buys, one Hold and one Sell — leaving an average rating of "Hold" and an average target price of $22.63, with several firms (including Goldman Sachs) recently lowering targets.
• The stock trades around $20.29 with a market cap of about $1.86B; the company reported Q4 EPS of $0.17 (in line) and revenue that beat estimates, while institutional ownership is roughly 41% with recent buying by firms like AQR and Jane Street.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) had its price objective reduced by analysts at Citizens Jmp from $32.00 to $30.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's price objective points to a potential upside of 47.86% from the company's current price.

Other analysts also recently issued reports about the stock. Wolfe Research set a $21.00 price objective on shares of Perella Weinberg Partners in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods upgraded shares of Perella Weinberg Partners from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $23.00 to $21.00 in a research note on Wednesday. Wall Street Zen upgraded shares of Perella Weinberg Partners from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. The Goldman Sachs Group reduced their price target on shares of Perella Weinberg Partners from $21.50 to $18.50 and set a "sell" rating for the company in a research report on Thursday, March 12th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Perella Weinberg Partners in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $22.63.

Perella Weinberg Partners Trading Up 5.5%

Shares of NASDAQ:PWP opened at $20.29 on Friday. The stock has a fifty day simple moving average of $19.16 and a two-hundred day simple moving average of $19.23. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 44.11 and a beta of 1.66. Perella Weinberg Partners has a 12-month low of $14.98 and a 12-month high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its earnings results on Friday, February 6th. The company reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. Perella Weinberg Partners had a negative return on equity of 25.81% and a net margin of 4.69%.The firm had revenue of $219.16 million for the quarter, compared to analysts' expectations of $192.84 million.

Institutional Trading of Perella Weinberg Partners

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in shares of Perella Weinberg Partners by 79.1% during the first quarter. AQR Capital Management LLC now owns 23,435 shares of the company's stock valued at $431,000 after purchasing an additional 10,350 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Perella Weinberg Partners by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company's stock worth $566,000 after purchasing an additional 1,342 shares during the last quarter. Jane Street Group LLC bought a new stake in Perella Weinberg Partners in the 1st quarter worth approximately $2,577,000. Legal & General Group Plc grew its position in Perella Weinberg Partners by 24.3% in the 2nd quarter. Legal & General Group Plc now owns 59,874 shares of the company's stock worth $1,163,000 after purchasing an additional 11,693 shares during the period. Finally, Rhumbline Advisers raised its stake in Perella Weinberg Partners by 12.1% during the 2nd quarter. Rhumbline Advisers now owns 81,588 shares of the company's stock valued at $1,584,000 after buying an additional 8,787 shares during the last quarter. Hedge funds and other institutional investors own 41.07% of the company's stock.

About Perella Weinberg Partners

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm's core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.