Perella Weinberg Partners (NASDAQ:PWP) CEO Sells 77,899 Shares of Stock

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 77,899 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $17.36, for a total value of $1,352,326.64. Following the transaction, the chief executive officer directly owned 1,219,058 shares of the company’s stock, valued at $21,162,846.88. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 stock was sold at an average price of $17.41, for a total value of $1,353,679.73.
• On Thursday, August 6th, Andrew Bednar sold 80,045 shares of Perella Weinberg Partners stock. The stock was sold at an average price of $17.17, for a total value of $1,374,372.65.

Perella Weinberg Partners Stock Up 2.6%

Shares of PWP traded up $0.44 during mid-day trading on Friday, hitting $17.50. 1,474,581 shares of the company’s stock traded hands, compared to its average volume of 1,144,553. The firm has a market capitalization of $1.63 billion, a P/E ratio of 67.31 and a beta of 1.64. The business’s 50-day moving average price is $15.95 and its 200-day moving average price is $18.36. Perella Weinberg Partners has a 1 year low of $14.11 and a 1 year high of $25.92.

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

Perella Weinberg Partners Announces Dividend

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

Hedge Funds Weigh In On Perella Weinberg Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. William Blair Investment Management LLC boosted its holdings in shares of Perella Weinberg Partners by 10.6% during the 4th quarter. William Blair Investment Management LLC now owns 3,946,163 shares of the company’s stock valued at $68,269,000 after buying an additional 379,652 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Perella Weinberg Partners by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 3,722,756 shares of the company’s stock worth $64,404,000 after acquiring an additional 241,363 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Perella Weinberg Partners by 73.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company’s stock valued at $60,911,000 after acquiring an additional 1,328,312 shares during the period. Nuveen LLC lifted its position in Perella Weinberg Partners by 29.2% during the 4th quarter. Nuveen LLC now owns 2,861,405 shares of the company’s stock valued at $49,502,000 after acquiring an additional 646,143 shares during the period. Finally, State Street Corp boosted its stake in Perella Weinberg Partners by 2.2% during the fourth quarter. State Street Corp now owns 1,798,302 shares of the company’s stock worth $31,111,000 after acquiring an additional 39,544 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.