Perella Weinberg Partners (NASDAQ:PWP) Shares Gap Down Following Weak Earnings

Key Points

• Shares gapped down after an earnings miss — the stock opened at $20.55 (prior close $22.74) after reporting EPS of $0.05 versus $0.16 expected, last trading around $21.01 on ~370,376 shares.
• The firm shows weak profitability metrics with a negative return on equity (-25.81%) and a 4.69% net margin, while trading at a PE of 44.15 and a market cap of about $1.87 billion.
• Perella declared a quarterly dividend of $0.07 ($0.28 annual, 1.4% yield; 60.87% payout ratio), and analysts carry an average "Hold" rating with a $22.88 target price.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) shares gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $22.74, but opened at $20.55. Perella Weinberg Partners shares last traded at $21.0130, with a volume of 370,376 shares.

The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.11). Perella Weinberg Partners had a negative return on equity of 25.81% and a net margin of 4.69%.

Perella Weinberg Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Tuesday, February 17th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, February 17th. Perella Weinberg Partners's dividend payout ratio is currently 60.87%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wolfe Research set a $21.00 price objective on Perella Weinberg Partners in a report on Wednesday, January 7th. Wall Street Zen raised Perella Weinberg Partners from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. The Goldman Sachs Group upped their price objective on Perella Weinberg Partners from $17.50 to $19.50 and gave the stock a "sell" rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods raised Perella Weinberg Partners from a "market perform" rating to an "outperform" rating and dropped their price objective for the stock from $23.00 to $21.00 in a report on Wednesday, April 8th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Perella Weinberg Partners in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $22.88.

Institutional Trading of Perella Weinberg Partners

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wesbanco Bank Inc. lifted its position in shares of Perella Weinberg Partners by 47.4% in the first quarter. Wesbanco Bank Inc. now owns 84,000 shares of the company's stock valued at $1,525,000 after acquiring an additional 27,000 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Perella Weinberg Partners in the first quarter valued at $249,000. Alpine Global Management LLC purchased a new stake in shares of Perella Weinberg Partners in the fourth quarter valued at $181,000. Invesco Ltd. lifted its position in shares of Perella Weinberg Partners by 13.8% in the fourth quarter. Invesco Ltd. now owns 128,113 shares of the company's stock valued at $2,216,000 after acquiring an additional 15,505 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Perella Weinberg Partners by 1,895.9% in the fourth quarter. Millennium Management LLC now owns 279,025 shares of the company's stock valued at $4,827,000 after acquiring an additional 265,045 shares in the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Perella Weinberg Partners Price Performance

The company has a 50-day moving average price of $18.96 and a 200-day moving average price of $19.29. The firm has a market capitalization of $1.87 billion, a PE ratio of 44.15 and a beta of 1.66.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm's core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.