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

Wall Street Zen upgraded shares of Perella Weinberg Partners (NASDAQ:PWP) from a hold rating to a buy rating in a research note released on Saturday.

A number of other research analysts also recently commented on PWP. The Goldman Sachs Group boosted their target price on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a “sell” rating in a research note on Thursday, May 15th. Keefe, Bruyette & Woods lowered their target price on Perella Weinberg Partners from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, May 12th. Finally, JMP Securities lowered their target price on Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th.

Perella Weinberg Partners Trading Up 2.7%

Shares of PWP stock opened at $18.11 on Friday. Perella Weinberg Partners has a 1-year low of $13.98 and a 1-year high of $27.03. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -11.46 and a beta of 1.65. The stock’s fifty day simple moving average is $17.48 and its 200-day simple moving average is $20.91.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.07. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. The business had revenue of $211.83 million for the quarter, compared to the consensus estimate of $200.29 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.07 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.55%. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -65.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc bought a new stake in Perella Weinberg Partners during the first quarter worth approximately $32,000. Quadrant Capital Group LLC lifted its stake in shares of Perella Weinberg Partners by 43.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company’s stock worth $37,000 after buying an additional 470 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Perella Weinberg Partners during the 1st quarter worth $40,000. Venturi Wealth Management LLC acquired a new position in Perella Weinberg Partners in the 4th quarter valued at $64,000. Finally, GAMMA Investing LLC raised its holdings 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 worth $70,000 after acquiring an additional 3,674 shares during the period. Institutional investors and hedge funds 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.