Perella Weinberg Partners (NASDAQ:PWP) Price Target Raised to $26.00

Perella Weinberg Partners (NASDAQ:PWP) had its price target raised by JMP Securities from $22.00 to $26.00 in a research note published on Wednesday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Separately, Keefe, Bruyette & Woods raised their price objective on Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an outperform rating in a report on Friday, July 12th.

Perella Weinberg Partners Stock Performance

Shares of PWP stock opened at $21.30 on Wednesday. The stock’s 50-day moving average is $19.05 and its two-hundred day moving average is $16.86. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -11.45 and a beta of 1.50. Perella Weinberg Partners has a 1 year low of $9.30 and a 1 year high of $21.40.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.26. The company had revenue of $272.00 million for the quarter, compared to analyst estimates of $179.35 million. Perella Weinberg Partners had a positive return on equity of 56.85% and a negative net margin of 15.75%. The business’s quarterly revenue was up 64.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.16 earnings per share.

Perella Weinberg Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, September 5th. Perella Weinberg Partners’s dividend payout ratio is currently -15.05%.

Hedge Funds Weigh In On Perella Weinberg Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Perella Weinberg Partners by 122.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock valued at $159,000 after purchasing an additional 5,379 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Perella Weinberg Partners by 16.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock valued at $174,000 after purchasing an additional 1,753 shares during the period. Arizona State Retirement System lifted its position in Perella Weinberg Partners by 15.3% in the second quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after purchasing an additional 1,724 shares during the period. Quadrature Capital Ltd acquired a new stake in Perella Weinberg Partners in the fourth quarter valued at about $165,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Perella Weinberg Partners by 27.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock valued at $215,000 after purchasing an additional 3,237 shares during the period. Hedge funds and other institutional investors 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.