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

Perella Weinberg Partners (NASDAQ:PWP) had its price target boosted by JMP Securities from $22.00 to $26.00 in a report issued 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 shares of 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 %

PWP stock opened at $21.30 on Wednesday. The firm has a 50 day moving average of $19.05 and a 200-day moving average of $16.86. Perella Weinberg Partners has a 12-month low of $9.30 and a 12-month high of $21.40. The company 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 (NASDAQ:PWP) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.26. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The business had revenue of $272.00 million during the quarter, compared to analysts’ expectations of $179.35 million. During the same period last year, the company posted $0.16 EPS. The company’s revenue was up 64.3% on a year-over-year basis.

Perella Weinberg Partners Announces Dividend

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

Institutional Trading of Perella Weinberg Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors LP grew its stake in Perella Weinberg Partners by 113.0% in the 1st quarter. Wasatch Advisors LP now owns 1,442,576 shares of the company’s stock worth $20,384,000 after acquiring an additional 765,461 shares during the period. Vanguard Group Inc. grew its stake in shares of Perella Weinberg Partners by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock valued at $35,212,000 after buying an additional 155,855 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Perella Weinberg Partners by 17.5% during the 1st quarter. Russell Investments Group Ltd. now owns 1,114,240 shares of the company’s stock valued at $15,744,000 after buying an additional 166,168 shares during the period. Janus Henderson Group PLC grew its stake in shares of Perella Weinberg Partners by 160.3% during the 1st quarter. Janus Henderson Group PLC now owns 90,715 shares of the company’s stock valued at $1,280,000 after buying an additional 55,862 shares during the period. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Perella Weinberg Partners during the 2nd quarter valued at $35,715,000. 41.07% of the stock is owned by hedge funds and other institutional investors.

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.