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

Perella Weinberg Partners (NASDAQ:PWP) released its earnings results on Friday. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 Stock Down 6.4 %

Perella Weinberg Partners stock traded down $1.68 during mid-day trading on Friday, hitting $24.48. 498,348 shares of the company’s stock were exchanged, compared to its average volume of 669,795. The company’s 50 day simple moving average is $24.68 and its 200-day simple moving average is $21.93. The firm has a market capitalization of $2.16 billion, a P/E ratio of -10.33 and a beta of 1.59. Perella Weinberg Partners has a fifty-two week low of $11.68 and a fifty-two week high of $27.03.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Perella Weinberg Partners

In other news, CEO Andrew Bednar sold 300,579 shares of the company’s 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 $7,358,173.92. Following the completion of the transaction, the chief executive officer now owns 566,386 shares in the company, valued at $13,865,129.28. This represents a 34.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dietrich Becker sold 442,889 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $10,841,922.72. Following the sale, the president now owns 379,140 shares in the company, valued at approximately $9,281,347.20. The trade was 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.

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.