Keefe, Bruyette & Woods Increases Perella Weinberg Partners (NASDAQ:PWP) Price Target to $29.00

Perella Weinberg Partners (NASDAQ:PWP) had its target price upped by investment analysts at Keefe, Bruyette & Woods from $27.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 18.90% from the stock’s previous close.

Perella Weinberg Partners Stock Down 6.8 %

NASDAQ:PWP opened at $24.39 on Monday. The business’s 50-day simple moving average is $24.65 and its two-hundred day simple moving average is $22.03. Perella Weinberg Partners has a 52 week low of $11.68 and a 52 week high of $27.03. The stock has a market cap of $2.15 billion, a PE ratio of -10.29 and a beta of 1.59.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, February 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%.

Insider Buying and Selling

In other Perella Weinberg Partners news, President Dietrich Becker sold 442,889 shares of Perella Weinberg Partners stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total value of $10,841,922.72. Following the sale, the president now owns 379,140 shares of the company’s stock, valued at $9,281,347.20. The trade was a 53.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Andrew Bednar sold 300,579 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the sale, the chief executive officer now directly owns 566,386 shares in the company, valued at approximately $13,865,129.28. The trade was a 34.67 % decrease in their position. The disclosure for this sale can be found here. 43.53% of the stock is owned by company insiders.

Institutional Trading of Perella Weinberg Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Perella Weinberg Partners by 49.4% during the third quarter. JPMorgan Chase & Co. now owns 435,922 shares of the company’s stock valued at $8,418,000 after acquiring an additional 144,222 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Perella Weinberg Partners by 197.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock worth $8,381,000 after purchasing an additional 288,186 shares during the period. Geode Capital Management LLC raised its position in Perella Weinberg Partners by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,257,620 shares of the company’s stock valued at $24,289,000 after purchasing an additional 34,301 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Perella Weinberg Partners by 72.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,728 shares of the company’s stock worth $960,000 after buying an additional 20,923 shares during the period. Finally, Kings Path Partners LLC bought a new position in shares of Perella Weinberg Partners during the 4th quarter worth $535,000. 41.07% of the stock is 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.