Perella Weinberg Partners (NASDAQ:PWP) Issues Earnings Results, Misses Expectations By $0.01 EPS

Perella Weinberg Partners (NASDAQ:PWP) released its quarterly earnings results on Friday. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01), Zacks reports. Perella Weinberg Partners had a negative return on equity of 26.14% and a net margin of 6.57%.The firm had revenue of $164.65 million for the quarter, compared to analysts’ expectations of $179.83 million.

Perella Weinberg Partners Stock Down 4.4%

Shares of Perella Weinberg Partners stock opened at $18.02 on Friday. The business has a 50-day moving average price of $20.62 and a 200 day moving average price of $19.88. Perella Weinberg Partners has a fifty-two week low of $14.12 and a fifty-two week high of $27.03. The firm has a market cap of $1.58 billion, a P/E ratio of 27.30 and a beta of 1.63.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 17th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 17th. Perella Weinberg Partners’s payout ratio is currently 34.15%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PWP shares. Weiss Ratings restated a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Wednesday, October 8th. Wall Street Zen lowered Perella Weinberg Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Keefe, Bruyette & Woods dropped their price objective on Perella Weinberg Partners from $24.00 to $21.00 and set a “hold” rating on the stock in a report on Monday, October 13th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.67.

Institutional Investors Weigh In On Perella Weinberg Partners

A number of institutional investors have recently made changes to their positions in PWP. JPMorgan Chase & Co. raised its position in shares of Perella Weinberg Partners by 628.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 238,018 shares of the company’s stock valued at $5,075,000 after acquiring an additional 205,334 shares in the last quarter. Osaic Holdings Inc. increased its stake in Perella Weinberg Partners by 2,980.6% during the second quarter. Osaic Holdings Inc. now owns 15,403 shares of the company’s stock valued at $284,000 after purchasing an additional 14,903 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Perella Weinberg Partners by 460.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock worth $100,000 after purchasing an additional 4,232 shares during the period. Voleon Capital Management LP bought a new position in shares of Perella Weinberg Partners in the 2nd quarter worth about $668,000. Finally, Wasatch Advisors LP boosted its holdings in shares of Perella Weinberg Partners by 6.6% in the 2nd quarter. Wasatch Advisors LP now owns 1,321,569 shares of the company’s stock valued at $25,665,000 after buying an additional 81,868 shares during the period. 41.07% of the stock is currently 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.