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

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

Perella Weinberg Partners Price Performance

Shares of Perella Weinberg Partners stock traded down $1.58 on Friday, hitting $24.58. 539,747 shares of the company’s stock traded hands, compared to its average volume of 671,738. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -10.39 and a beta of 1.59. The company has a fifty day moving average of $24.68 and a two-hundred day moving average of $21.93. Perella Weinberg Partners has a one year low of $11.68 and a one year high of $27.03.

Insider Buying and Selling at Perella Weinberg Partners

In related news, CEO Andrew Bednar sold 300,579 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $7,358,173.92. Following the transaction, the chief executive officer now owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. This trade represents a 34.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Dietrich Becker sold 442,889 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 of the company’s stock, valued at $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. Insiders own 43.53% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their price target on 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.

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.