Insider Selling: Perella Weinberg Partners (NASDAQ:PWP) CEO Sells 80,045 Shares of Stock

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 80,045 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,139,013 shares in the company, valued at approximately $19,556,853.21. This represents a 6.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $1,352,326.64.

Perella Weinberg Partners Price Performance

Shares of NASDAQ:PWP traded up $0.44 during trading on Friday, reaching $17.50. The company had a trading volume of 1,474,581 shares, compared to its average volume of 1,144,553. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 67.31 and a beta of 1.64. The stock’s fifty day moving average price is $15.95 and its 200 day moving average price is $18.36. 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 released its quarterly earnings results on Friday, July 31st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.06 by $0.14. Perella Weinberg Partners had a negative return on equity of 35.84% and a net margin of 3.19%.The business had revenue of $156.53 million during the quarter, compared to analysts’ expectations of $144.76 million.

Perella Weinberg Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PWP shares. 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 note on Monday. The Goldman Sachs Group upped their price objective on Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Monday. Weiss Ratings raised Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Finally, Citizens Jmp decreased their target price on shares of 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. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.00.

Institutional Investors Weigh In On Perella Weinberg Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kennedy Capital Management LLC grew its stake in shares of Perella Weinberg Partners by 1.2% during the fourth quarter. Kennedy Capital Management LLC now owns 57,646 shares of the company’s stock worth $997,000 after purchasing an additional 660 shares during the period. ProShare Advisors LLC lifted its stake in Perella Weinberg Partners by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock valued at $197,000 after buying an additional 733 shares during the period. Captrust Financial Advisors boosted its holdings in Perella Weinberg Partners by 13.6% during the fourth quarter. Captrust Financial Advisors now owns 11,114 shares of the company’s stock worth $192,000 after buying an additional 1,330 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Perella Weinberg Partners by 24.3% during the first quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock worth $124,000 after buying an additional 1,338 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Perella Weinberg Partners by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company’s stock worth $566,000 after buying an additional 1,342 shares during the period. 41.07% of the stock is currently owned by institutional investors and hedge funds.

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.