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

Perella Weinberg Partners (NASDAQ:PWP) posted its quarterly earnings data on Friday. The company reported $0.26 earnings per share (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 Stock Down 6.8 %

Shares of PWP opened at $24.39 on Friday. Perella Weinberg Partners has a 52-week low of $11.68 and a 52-week high of $27.03. The firm’s fifty day moving average is $24.65 and its two-hundred day moving average is $21.98.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price objective on 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 Activity

In other news, President Dietrich Becker sold 442,889 shares of the company’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 completion of the sale, the president now directly owns 379,140 shares in the company, valued at $9,281,347.20. This represents a 53.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Bednar sold 300,579 shares of Perella Weinberg Partners 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 $7,358,173.92. Following the transaction, the chief executive officer now owns 566,386 shares in the company, valued at approximately $13,865,129.28. The trade was a 34.67 % decrease in their position. The disclosure for this sale can be found here. Company 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.