The Goldman Sachs Group Issues Pessimistic Forecast for Perella Weinberg Partners (NASDAQ:PWP) Stock Price

Perella Weinberg Partners (NASDAQ:PWP) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $23.00 to $20.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 2.67% from the stock’s current price.

Separately, Keefe, Bruyette & Woods boosted their price target on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, February 10th.

Perella Weinberg Partners Trading Down 0.8 %

PWP stock opened at $19.48 on Friday. The firm’s 50-day moving average price is $23.46 and its two-hundred day moving average price is $22.61. Perella Weinberg Partners has a 12-month low of $11.68 and a 12-month high of $27.03. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -12.33 and a beta of 1.61.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Friday, February 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in Perella Weinberg Partners by 43.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company’s stock valued at $37,000 after purchasing an additional 470 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Perella Weinberg Partners by 1.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,403 shares of the company’s stock valued at $701,000 after purchasing an additional 518 shares during the period. US Bancorp DE lifted its position in Perella Weinberg Partners by 4.4% during the fourth quarter. US Bancorp DE now owns 17,602 shares of the company’s stock valued at $420,000 after purchasing an additional 746 shares during the period. Ancora Advisors LLC lifted its position in Perella Weinberg Partners by 0.4% during the fourth quarter. Ancora Advisors LLC now owns 203,446 shares of the company’s stock valued at $4,850,000 after purchasing an additional 830 shares during the period. Finally, Rhumbline Advisers lifted its position in Perella Weinberg Partners by 1.2% during the fourth quarter. Rhumbline Advisers now owns 70,861 shares of the company’s stock valued at $1,689,000 after purchasing an additional 854 shares during the period. Institutional investors 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.