Perella Weinberg Partners (NASDAQ:PWP) Releases Earnings Results, Misses Estimates By $0.02 EPS

Perella Weinberg Partners (NASDAQ:PWP) released its quarterly earnings data on Friday. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02), Zacks reports. Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%.

Perella Weinberg Partners Trading Down 6.0 %

PWP stock traded down $1.58 during trading on Friday, hitting $24.58. The company had a trading volume of 539,747 shares, compared to its average volume of 671,738. The company has a fifty day moving average price of $24.68 and a two-hundred day moving average price of $21.93. Perella Weinberg Partners has a fifty-two week low of $11.68 and a fifty-two week high of $27.03. The company has a market cap of $2.17 billion, a P/E ratio of -10.39 and a beta of 1.59.

Insider Activity

In related news, President Dietrich Becker sold 442,889 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the sale, the president now directly owns 379,140 shares in the company, valued at $9,281,347.20. This trade represents a 53.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Bednar sold 300,579 shares of Perella Weinberg Partners stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the completion of the transaction, the chief executive officer now directly owns 566,386 shares in the company, valued at approximately $13,865,129.28. The trade was a 34.67 % decrease in their position. The disclosure for this sale can be found here. 43.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price target on shares of Perella Weinberg Partners from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th.

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.