Andrew Bednar Sells 80,045 Shares of Perella Weinberg Partners (NASDAQ:PWP) 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 transaction of $1,374,372.65. Following the sale, the chief executive officer directly owned 1,139,013 shares in the company, valued at $19,556,853.21. This represents a 6.57% 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 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 shares were sold at an average price of $17.41, for a total transaction 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 transaction of $1,352,326.64.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ PWP opened at $17.50 on Friday. Perella Weinberg Partners has a 1 year low of $14.11 and a 1 year high of $25.92. The firm’s 50 day moving average price is $15.95 and its 200 day moving average price is $18.35. The firm has a market cap of $1.63 billion, a P/E ratio of 67.31 and a beta of 1.64.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PWP. Los Angeles Capital Management LLC purchased a new stake in Perella Weinberg Partners during the fourth quarter valued at about $45,000. Torren Management LLC acquired a new stake in Perella Weinberg Partners during the fourth quarter worth about $62,000. Kemnay Advisory Services Inc. purchased a new position in shares of Perella Weinberg Partners in the 4th quarter worth about $86,000. Tower Research Capital LLC TRC lifted its stake in shares of Perella Weinberg Partners by 460.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock valued at $100,000 after purchasing an additional 4,232 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Perella Weinberg Partners by 24.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock valued at $124,000 after purchasing an additional 1,338 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PWP has been the topic of a number of research analyst reports. Weiss Ratings raised Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. The Goldman Sachs Group upped their price objective 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. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $21.00 target price (up from $19.00) on shares of Perella Weinberg Partners in a research report on Monday, August 3rd. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.