Wall Street Zen Upgrades Perella Weinberg Partners (NASDAQ:PWP) to Buy

Key Points

• Wall Street Zen upgraded Perella Weinberg Partners to “Buy” from “Hold,” though the broader analyst consensus remains “Hold” with a $22.00 target price.
• Perella Weinberg reported quarterly EPS of $0.20, beating the $0.06 consensus estimate, while revenue of $156.53 million also exceeded expectations.
• The stock opened at $16.61, up 4.0%, but insiders have sold 235,697 shares worth about $4.08 million over the past 90 days; institutional investors own 41.07% of the company.

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

Several other equities analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $21.00 price objective (up from $19.00) on shares of Perella Weinberg Partners in a research report on Monday, August 3rd. The Goldman Sachs Group increased their target price on Perella Weinberg Partners from $14.50 to $16.00 and gave the company a "sell" rating in a report on Monday, August 3rd. Finally, Weiss Ratings cut Perella Weinberg Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday. Two 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.00.

Perella Weinberg Partners Stock Up 4.0%

NASDAQ:PWP opened at $16.61 on Friday. The stock has a fifty day simple moving average of $16.23 and a 200 day simple moving average of $17.99. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 63.89 and a beta of 1.64. Perella Weinberg Partners has a 1-year low of $14.11 and a 1-year high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.14. Perella Weinberg Partners had a negative return on equity of 35.84% and a net margin of 3.19%.The firm had revenue of $156.53 million for the quarter, compared to the consensus estimate of $144.76 million.

Insider Activity at Perella Weinberg Partners

In related news, CEO Andrew Bednar sold 77,753 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $17.41, for a total transaction of $1,353,679.73. Following the completion of the sale, the chief executive officer directly owned 1,061,260 shares in the company, valued at approximately $18,476,536.60. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 235,697 shares of company stock worth $4,080,379 in the last ninety days. Company insiders own 26.10% of the company's stock.

Institutional Investors 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 stock. William Blair Investment Management LLC grew its holdings in shares of Perella Weinberg Partners by 10.6% during the 4th quarter. William Blair Investment Management LLC now owns 3,946,163 shares of the company's stock valued at $68,269,000 after acquiring an additional 379,652 shares in the last quarter. Wesbanco Bank Inc. purchased a new stake in shares of Perella Weinberg Partners during the fourth quarter worth $986,000. First Eagle Investment Management LLC raised its holdings in shares of Perella Weinberg Partners by 24.8% during the fourth quarter. First Eagle Investment Management LLC now owns 583,848 shares of the company's stock worth $10,101,000 after acquiring an additional 116,056 shares in the last quarter. Vanguard Group Inc. boosted its position in Perella Weinberg Partners by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 3,722,756 shares of the company's stock valued at $64,404,000 after purchasing an additional 241,363 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Perella Weinberg Partners by 41.6% during the first quarter. Bank of America Corp DE now owns 1,316,482 shares of the company's stock valued at $23,907,000 after purchasing an additional 386,473 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.

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