Perella Weinberg Partners (NASDAQ:PWP) Releases Earnings Results, Misses Expectations By $0.01 EPS

Perella Weinberg Partners (NASDAQ:PWP) posted its quarterly earnings data on Friday. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01), Zacks reports. Perella Weinberg Partners had a negative return on equity of 26.14% and a net margin of 6.57%.The firm had revenue of $164.65 million for the quarter, compared to analyst estimates of $179.83 million.

Perella Weinberg Partners Price Performance

Shares of PWP traded down $0.83 during trading hours on Friday, hitting $18.02. The stock had a trading volume of 2,389,661 shares, compared to its average volume of 985,904. Perella Weinberg Partners has a 1-year low of $14.12 and a 1-year high of $27.03. The firm has a market capitalization of $1.58 billion, a P/E ratio of 21.98 and a beta of 1.63. The firm has a 50 day simple moving average of $20.62 and a 200-day simple moving average of $19.85.

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 17th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, November 17th. Perella Weinberg Partners’s dividend payout ratio is 34.15%.

Analyst Ratings Changes

PWP has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Perella Weinberg Partners in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their target price on Perella Weinberg Partners from $24.00 to $21.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. Finally, Wall Street Zen downgraded Perella Weinberg Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 valued at $566,000 after acquiring an additional 1,342 shares during the period. The Manufacturers Life Insurance Company grew its position in Perella Weinberg Partners by 14.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,000 shares of the company’s stock valued at $583,000 after purchasing an additional 3,688 shares during the period. Tower Research Capital LLC TRC increased its stake in Perella Weinberg Partners by 460.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock valued at $100,000 after purchasing an additional 4,232 shares in the last quarter. Rhumbline Advisers raised its holdings in Perella Weinberg Partners by 12.1% during the second quarter. Rhumbline Advisers now owns 81,588 shares of the company’s stock worth $1,584,000 after buying an additional 8,787 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Perella Weinberg Partners by 79.1% in the first quarter. AQR Capital Management LLC now owns 23,435 shares of the company’s stock valued at $431,000 after buying an additional 10,350 shares in the last quarter. Institutional investors own 41.07% 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.