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

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 77,753 shares of the firm’s stock in a transaction dated 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 directly 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 sale was disclosed in a legal filing with the SEC, 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 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 shares were sold at an average price of $17.36, for a total value of $1,352,326.64.

Perella Weinberg Partners Trading Up 2.6%

NASDAQ: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 price-to-earnings ratio of 67.31 and a beta of 1.64. The firm has a 50 day moving average of $15.95 and a two-hundred day moving average of $18.36. Perella Weinberg Partners has a 12 month low of $14.11 and a 12 month high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP) last issued 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 company had revenue of $156.53 million for the quarter, compared to the consensus estimate 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 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 presently 107.69%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in shares of Perella Weinberg Partners by 79.1% during the 1st quarter. AQR Capital Management LLC now owns 23,435 shares of the company’s stock worth $431,000 after buying an additional 10,350 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Perella Weinberg Partners by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company’s stock valued at $566,000 after acquiring an additional 1,342 shares during the period. Jane Street Group LLC acquired a new position in Perella Weinberg Partners in the first quarter valued at about $2,577,000. Legal & General Group Plc grew its stake in Perella Weinberg Partners by 24.3% during the second quarter. Legal & General Group Plc now owns 59,874 shares of the company’s stock worth $1,163,000 after buying an additional 11,693 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Perella Weinberg Partners by 12.1% during the second quarter. Rhumbline Advisers now owns 81,588 shares of the company’s stock worth $1,584,000 after buying an additional 8,787 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Wall Street Analyst Weigh In

PWP has been the topic of several research reports. The Goldman Sachs Group boosted their price target on Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a research note on Monday. Weiss Ratings raised Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $21.00 price objective (up from $19.00) on shares of Perella Weinberg Partners in a research report on Monday. Finally, Citizens Jmp cut their target price 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. 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 stock. Based on data from MarketBeat, Perella Weinberg Partners currently has an average rating of “Hold” and an average target price of $22.00.

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.