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

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 77,899 shares of the firm’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 owned 1,219,058 shares of the company’s stock, valued at $21,162,846.88. This represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Price Performance

Shares of PWP opened at $17.50 on Friday. The stock has a market capitalization of $1.63 billion, a price-to-earnings 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 business’s 50 day simple moving average is $15.95 and its 200-day simple moving average is $18.35.

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

Perella Weinberg Partners Announces Dividend

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

Analyst Ratings Changes

PWP has been the topic of a number of research reports. Citizens Jmp reduced 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 report on Friday, April 10th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $21.00 price target (up from $19.00) on shares of Perella Weinberg Partners in a report on Monday, August 3rd. The Goldman Sachs Group lifted their price target on Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Monday. Finally, Weiss Ratings raised 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PWP. Kennedy Capital Management LLC increased its position in Perella Weinberg Partners by 1.2% during the fourth quarter. Kennedy Capital Management LLC now owns 57,646 shares of the company’s stock valued at $997,000 after acquiring an additional 660 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Perella Weinberg Partners by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock worth $197,000 after acquiring an additional 733 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Perella Weinberg Partners by 13.6% during the 4th quarter. Captrust Financial Advisors now owns 11,114 shares of the company’s stock worth $192,000 after purchasing an additional 1,330 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of 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 purchasing an additional 1,338 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 valued at $566,000 after purchasing an additional 1,342 shares during the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

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.