Andrew Bednar Sells 77,753 Shares of Perella Weinberg Partners (NASDAQ:PWP) Stock

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 77,753 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $17.41, for a total value of $1,353,679.73. Following the completion of the sale, the chief executive officer owned 1,061,260 shares in the company, valued at approximately $18,476,536.60. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 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.
• On Wednesday, August 5th, Andrew Bednar sold 77,899 shares of Perella Weinberg Partners stock. The stock was sold at an average price of $17.36, for a total value of $1,352,326.64.

Perella Weinberg Partners Price Performance

Shares of PWP stock opened at $17.50 on Friday. The stock’s fifty day simple moving average is $15.95 and its 200 day simple moving average is $18.35. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 67.31 and a beta of 1.64. Perella Weinberg Partners has a one year low of $14.11 and a one year high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.14. The firm 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 company also recently announced 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 of this dividend 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 is presently 107.69%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PWP shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $21.00 price target (up from $19.00) on shares of Perella Weinberg Partners in a report on Monday, August 3rd. Weiss Ratings raised shares of Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Finally, The Goldman Sachs Group lifted their target price on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Monday, August 3rd. Two equities 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, Perella Weinberg Partners has a consensus rating of “Hold” and an average price target of $22.00.

Institutional Trading of Perella Weinberg Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in shares of Perella Weinberg Partners in the fourth quarter valued at about $45,000. Torren Management LLC acquired a new position in Perella Weinberg Partners during the 4th quarter worth about $62,000. Kemnay Advisory Services Inc. bought a new stake in Perella Weinberg Partners during the 4th quarter worth about $86,000. Tower Research Capital LLC TRC grew its holdings in Perella Weinberg Partners by 460.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock worth $100,000 after acquiring an additional 4,232 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Perella Weinberg Partners by 24.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock worth $124,000 after acquiring an additional 1,338 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.