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 company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $17.41, for a total transaction of $1,353,679.73. Following the transaction, the chief executive officer owned 1,061,260 shares of the company’s stock, valued at $18,476,536.60. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 Thursday, August 6th, Andrew Bednar sold 80,045 shares of Perella Weinberg Partners stock. The shares were 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 Stock Up 2.6%

Shares of PWP stock opened at $17.50 on Friday. The firm has a market capitalization of $1.63 billion, a P/E ratio of 67.31 and a beta of 1.64. Perella Weinberg Partners has a twelve month low of $14.11 and a twelve month high of $25.92. The stock’s fifty day simple moving average is $15.95 and its 200 day simple moving average is $18.35.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.14. The business had revenue of $156.53 million during the quarter, compared to analysts’ expectations 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 28th will be issued a dividend of $0.07 per share. 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 payout ratio is 107.69%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PWP shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $21.00 price objective (up from $19.00) on shares of Perella Weinberg Partners in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Citizens Jmp dropped their price target on shares of 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. Finally, The Goldman Sachs Group lifted their price target on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $22.00.

Hedge Funds Weigh In On Perella Weinberg Partners

A number of hedge funds have recently made changes to their positions in the stock. Kennedy Capital Management LLC increased its position in Perella Weinberg Partners by 1.2% in the 4th quarter. Kennedy Capital Management LLC now owns 57,646 shares of the company’s stock valued at $997,000 after buying an additional 660 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Perella Weinberg Partners by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock worth $197,000 after acquiring an additional 733 shares in the last quarter. Captrust Financial Advisors grew its stake in Perella Weinberg Partners by 13.6% in the fourth quarter. Captrust Financial Advisors now owns 11,114 shares of the company’s stock valued at $192,000 after acquiring an additional 1,330 shares during the period. PNC Financial Services Group Inc. grew its stake in Perella Weinberg Partners by 24.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock valued at $124,000 after acquiring an additional 1,338 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 in the last quarter. 41.07% of the stock is currently owned by institutional investors.

About Perella Weinberg Partners

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.