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

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

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

Perella Weinberg Partners Trading Up 5.9 %

Shares of NASDAQ PWP opened at $21.30 on Wednesday. Perella Weinberg Partners has a twelve month low of $9.30 and a twelve month high of $21.40. The stock has a 50 day moving average of $19.05 and a two-hundred day moving average of $16.88. The stock has a market cap of $2.01 billion, a P/E ratio of -11.45 and a beta of 1.50.

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

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, September 5th. Perella Weinberg Partners’s payout ratio is -15.05%.

Institutional Trading of Perella Weinberg Partners

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Perella Weinberg Partners in the third quarter valued at $406,000. Nantahala Capital Management LLC grew its holdings in Perella Weinberg Partners by 166.1% in the second quarter. Nantahala Capital Management LLC now owns 265,474 shares of the company’s stock valued at $4,314,000 after purchasing an additional 165,696 shares during the last quarter. Algert Global LLC boosted its stake in shares of Perella Weinberg Partners by 18.9% during the second quarter. Algert Global LLC now owns 148,025 shares of the company’s stock valued at $2,405,000 after acquiring an additional 23,540 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Perella Weinberg Partners by 30.4% during the second quarter. The Manufacturers Life Insurance Company now owns 20,167 shares of the company’s stock valued at $328,000 after acquiring an additional 4,697 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Perella Weinberg Partners by 2,883.9% during the second quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock valued at $28,012,000 after acquiring an additional 1,666,015 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

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.