Perella Weinberg Partners (NASDAQ:PWP) Shares Gap Up – Still a Buy?

Perella Weinberg Partners (NASDAQ:PWP)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $23.88, but opened at $25.10. Perella Weinberg Partners shares last traded at $24.07, with a volume of 20,641 shares traded.

Analysts Set New Price Targets

PWP has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. JMP Securities upped their price target on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th.

Perella Weinberg Partners Stock Performance

The stock has a market cap of $2.05 billion, a P/E ratio of -8.29 and a beta of 1.49. The firm has a 50-day moving average price of $20.06 and a 200-day moving average price of $17.72.

Institutional Trading of Perella Weinberg Partners

A number of hedge funds have recently bought and sold shares of PWP. Vanguard Group Inc. increased its position in Perella Weinberg Partners by 6.7% in the first quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock worth $35,212,000 after buying an additional 155,855 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Perella Weinberg Partners during the second quarter worth about $35,715,000. Millennium Management LLC grew its position 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 worth $28,012,000 after purchasing an additional 1,666,015 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Perella Weinberg Partners during the second quarter worth about $20,198,000. Finally, Royce & Associates LP grew its position in shares of Perella Weinberg Partners by 14.3% during the third quarter. Royce & Associates LP now owns 1,179,111 shares of the company’s stock worth $22,769,000 after purchasing an additional 147,424 shares in the last quarter. 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.