Perella Weinberg Partners (NASDAQ:PWP) Hits New 12-Month High – Should You Buy?

Perella Weinberg Partners (NASDAQ:PWP)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $23.33 and last traded at $23.33, with a volume of 1126 shares. The stock had previously closed at $21.08.

Analyst Ratings Changes

PWP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price objective on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, July 12th. JMP Securities lifted 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 note on Wednesday, October 9th.

Perella Weinberg Partners Stock Performance

The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -7.32 and a beta of 1.49. The company has a 50-day simple moving average of $19.86 and a two-hundred day simple moving average of $17.59.

Institutional Trading of Perella Weinberg Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Perella Weinberg Partners by 122.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock worth $159,000 after purchasing an additional 5,379 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Perella Weinberg Partners by 16.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock worth $174,000 after acquiring an additional 1,753 shares during the period. Arizona State Retirement System grew its position in shares of 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 last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Perella Weinberg Partners by 27.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock worth $215,000 after purchasing an additional 3,237 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Perella Weinberg Partners by 17.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock worth $272,000 after purchasing an additional 2,537 shares during the last quarter. 41.07% of the stock is owned by 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.