Perella Weinberg Partners (NASDAQ:PWP) Shares Gap Up Following Better-Than-Expected Earnings

Perella Weinberg Partners (NASDAQ:PWP) gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $14.91, but opened at $19.71. Perella Weinberg Partners shares last traded at $17.7580, with a volume of 244,304 shares.

The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.06 by $0.14. The company had revenue of $156.53 million for the quarter, compared to the consensus estimate of $144.76 million. Perella Weinberg Partners had a negative return on equity of 19.90% and a net margin of 2.82%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PWP shares. Keefe, Bruyette & Woods cut their price target on shares of Perella Weinberg Partners from $23.50 to $19.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. The Goldman Sachs Group set a $16.00 price objective on shares of Perella Weinberg Partners in a report on Friday, June 12th. Citizens Jmp lowered their price objective on shares of Perella Weinberg Partners from $32.00 to $30.00 and set a “market outperform” rating for the company in a research report on Friday, April 10th. Finally, Weiss Ratings downgraded shares of Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $21.50.

Insider Transactions at Perella Weinberg Partners

In other news, CFO Alexandra Gottschalk sold 14,018 shares of Perella Weinberg Partners stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $17.46, for a total value of $244,754.28. Following the transaction, the chief financial officer directly owned 72,492 shares in the company, valued at approximately $1,265,710.32. This trade represents a 16.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 109,477 shares of company stock worth $2,034,533. 26.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its position in Perella Weinberg Partners by 79.1% during the first quarter. AQR Capital Management LLC now owns 23,435 shares of the company’s stock valued at $431,000 after purchasing an additional 10,350 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Perella Weinberg Partners by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company’s stock worth $566,000 after purchasing an additional 1,342 shares in the last quarter. Jane Street Group LLC bought a new position in Perella Weinberg Partners in the first quarter worth about $2,577,000. Legal & General Group Plc lifted its position in shares of Perella Weinberg Partners by 24.3% during the second quarter. Legal & General Group Plc now owns 59,874 shares of the company’s stock valued at $1,163,000 after buying an additional 11,693 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Perella Weinberg Partners by 12.1% during the second quarter. Rhumbline Advisers now owns 81,588 shares of the company’s stock valued at $1,584,000 after buying an additional 8,787 shares during the last quarter. 41.07% of the stock is owned by institutional investors.

Perella Weinberg Partners Stock Performance

The firm has a market capitalization of $1.66 billion, a P/E ratio of 74.39 and a beta of 1.65. The business’s fifty day moving average price is $16.07 and its two-hundred day moving average price is $18.47.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.