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

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 77,899 shares of Perella Weinberg Partners stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $17.36, for a total transaction of $1,352,326.64. Following the completion of the sale, the chief executive officer owned 1,219,058 shares in the company, valued at $21,162,846.88. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $17.41, for a total transaction 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 transaction of $1,374,372.65.

Perella Weinberg Partners Trading Up 2.6%

Perella Weinberg Partners stock opened at $17.50 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of 67.31 and a beta of 1.64. Perella Weinberg Partners has a 1-year low of $14.11 and a 1-year high of $25.92. The company has a fifty day simple moving average of $15.95 and a 200 day simple moving average of $18.35.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $144.76 million.

Perella Weinberg Partners Announces Dividend

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

Wall Street Analyst Weigh In

PWP has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reaffirmed 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. Finally, Weiss Ratings upgraded Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.00.

Hedge Funds Weigh In On Perella Weinberg Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. William Blair Investment Management LLC raised its position in shares of Perella Weinberg Partners by 10.6% in the fourth quarter. William Blair Investment Management LLC now owns 3,946,163 shares of the company’s stock valued at $68,269,000 after purchasing an additional 379,652 shares during the period. Wesbanco Bank Inc. bought a new stake in shares of Perella Weinberg Partners during the 4th quarter worth about $986,000. First Eagle Investment Management LLC boosted its holdings in shares of Perella Weinberg Partners by 24.8% during the 4th quarter. First Eagle Investment Management LLC now owns 583,848 shares of the company’s stock worth $10,101,000 after buying an additional 116,056 shares during the period. Vanguard Group Inc. grew its stake in Perella Weinberg Partners by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 3,722,756 shares of the company’s stock valued at $64,404,000 after buying an additional 241,363 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its stake in Perella Weinberg Partners by 14.9% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 621,774 shares of the company’s stock valued at $11,291,000 after buying an additional 80,490 shares during the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

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.