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

Perella Weinberg Partners (NASDAQ:PWP) released its quarterly earnings data on Friday. The company reported $0.26 EPS for the quarter, missing the consensus estimate 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 6.4 %

NASDAQ:PWP traded down $1.68 on Friday, hitting $24.48. The company’s stock had a trading volume of 498,348 shares, compared to its average volume of 669,795. Perella Weinberg Partners has a one year low of $11.68 and a one year high of $27.03. The firm has a market capitalization of $2.16 billion, a P/E ratio of -10.33 and a beta of 1.59. The stock has a fifty day moving average of $24.68 and a two-hundred day moving average of $21.93.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut 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 research note on Tuesday, January 14th.

Insider Transactions at Perella Weinberg Partners

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

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.