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PWP · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Perella Weinberg Partners Class A Common Stock (PWP) stock moving?
Perella Weinberg's Q3 2026 results on Oct 29 were strong: revenue of $251.4M rose 53% year over year and adjusted EPS of $0.39 beat the $0.14 estimate, though GAAP diluted EPS was $0.21 and nine-month revenue rose only 5%. The firm ended the quarter with $150M of cash and no debt, returned $88M to equity holders year to date, declared a $0.07 quarterly dividend, and closed the Gleacher Shacklock acquisition on Sept 1. The stock rose from 12.94 on Oct 28 to 14.00 on Oct 29 on 4.06M shares, then peaked near 15.14 intraday on Nov 2 and Nov 4. It has since pulled back to 13.50 on Nov 5 and closed at 13.83 on Nov 10 after 14.40 on Nov 9, still above its pre-earnings range. Supporting the stock, KBW kept Outperform and raised its target to $20 from $19, and the firm is advising on live deals including Vantive's hemodialysis asset sale to Rockwell Medical and ECP's sale of Harvestone. Against this, a director sold 40,000 shares (about $538K, implying roughly $13.45 a share) and an MD left for Houlihan Lokey, and advisory revenue is lumpy, as the weak nine-month growth shows. Volume has stayed above late-October levels, with 2.03M shares traded on Nov 10.
News behind the analysis
- Perella Weinberg Partners Director Robert K. Steel Sells SharesDirector Robert K. Steel sold 40,000 shares of Perella Weinberg Partners common stock in an open-market transaction.
- TPH&Co. Serves as Financial Advisor to ECPTPH&Co., the energy business of Perella Weinberg Partners, acted as exclusive financial advisor to Energy Capital Partners on the sale of Harvestone Low Carbon.
- Perella Weinberg Partners Acts as Financial Advisor to Vantive in Asset Sale to Rockwell MedicalPerella Weinberg Partners is advising Vantive on its agreement to sell the majority of its hemodialysis assets to Rockwell Medical.
- Perella Weinberg Partners LP Acts as Financial Advisor for VantivePerella Weinberg Partners LP is serving as financial advisor in a transaction involving Vantive's dialyzer portfolio.
- Adnan Choudhury Departs Perella Weinberg Partners for Houlihan LokeyAdnan Choudhury, a Managing Director in the U.K. Advisory team, has left Perella Weinberg Partners to join Houlihan Lokey.
- Keefe, Bruyette & Woods Raises Price Target for Perella Weinberg PartnersKeefe, Bruyette & Woods kept its Outperform rating on Perella Weinberg Partners and raised the price target from $19 to $20.
- Keefe, Bruyette & Woods Reiterates Outperform on Perella Weinberg, Raises Price Target to $20Keefe, Bruyette & Woods reiterated its Outperform rating on Perella Weinberg and lifted its price target to $20.
- Perella Weinberg Q3 2026 Earnings Call TranscriptTranscript of Perella Weinberg's third-quarter 2026 earnings call, held after results were released on Thursday, Oct 29.
- Perella Weinberg Partners Reports Third Quarter 2026 Financial ResultsPerella Weinberg reported Q3 2026 revenue of $251.4 million and adjusted EPS of $0.39, with cash of $150 million and no debt.
About Perella Weinberg Partners Class A Common Stock
Perella Weinberg Partners is a New York-based independent investment bank founded in 2006 by Joseph Perella and Peter Weinberg, and it has traded on Nasdaq since 2021. It doesn't lend money or trade securities with its own capital. Instead it advises companies on mergers, acquisitions, restructurings and financing, and in September 2026 it expanded in the UK by buying the advisory firm Gleacher Shacklock.
How it makes money
Nearly all of its revenue is advisory fees, and most of those fees are paid only when a deal closes. The two main sources are M&A advice and restructuring or liability-management work for companies under financial stress, plus some capital-markets advice. Because fees depend on when deals close, revenue can swing a lot from quarter to quarter. In Q3 2026, for example, revenue was about $251 million, up roughly 53% from a year earlier. Banker pay is by far its largest cost.
What usually moves PWP
- Global M&A deal volumes and CEO confidence
- Corporate restructuring and distressed-debt activity
- Interest rates and credit-market conditions
- Hiring and keeping senior partners
- Timing of large deals closing and the size of its deal backlog