Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar Sells 80,045 Shares

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 80,045 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $17.17, for a total value of $1,374,372.65. Following the completion of the transaction, the chief executive officer directly owned 1,139,013 shares of the company’s stock, valued at approximately $19,556,853.21. The trade was a 6.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Andrew Bednar also recently made the following trade(s):

• On Friday, August 7th, Andrew Bednar sold 77,753 shares of Perella Weinberg Partners stock. The shares were sold at an average price of $17.41, for a total value of $1,353,679.73.
• On Wednesday, August 5th, Andrew Bednar sold 77,899 shares of Perella Weinberg Partners stock. The shares were sold at an average price of $17.36, for a total transaction of $1,352,326.64.

Perella Weinberg Partners Stock Up 2.6%

PWP stock opened at $17.50 on Friday. The company has a market capitalization of $1.63 billion, a P/E ratio of 67.31 and a beta of 1.64. The company has a 50-day simple moving average of $15.95 and a 200 day simple moving average of $18.35. Perella Weinberg Partners has a fifty-two week low of $14.11 and a fifty-two week high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.14. Perella Weinberg Partners had a net margin of 3.19% and a negative return on equity of 35.84%. The firm had revenue of $156.53 million during the quarter, compared to analyst estimates of $144.76 million.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 28th will be issued a $0.07 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.28 annualized dividend and a dividend yield of 1.6%. Perella Weinberg Partners’s dividend payout ratio (DPR) is 107.69%.

Analysts Set New Price Targets

PWP has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Monday. Citizens Jmp decreased their price target on Perella Weinberg Partners from $32.00 to $30.00 and set a “market outperform” rating for the company in a research note on Friday, April 10th. Weiss Ratings upgraded Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $21.00 price target (up from $19.00) on shares of Perella Weinberg Partners in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.00.

Hedge Funds Weigh In On Perella Weinberg Partners

Large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in shares of Perella Weinberg Partners in the 4th quarter worth approximately $45,000. Torren Management LLC bought a new stake in Perella Weinberg Partners during the fourth quarter worth approximately $62,000. Kemnay Advisory Services Inc. acquired a new position in Perella Weinberg Partners in the fourth quarter worth approximately $86,000. Tower Research Capital LLC TRC grew its position in Perella Weinberg Partners by 460.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock worth $100,000 after buying an additional 4,232 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Perella Weinberg Partners by 24.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock valued at $124,000 after buying an additional 1,338 shares in the last quarter. Institutional investors own 41.07% of the company’s stock.

About Perella Weinberg Partners

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.