Insider Selling: Perella Weinberg Partners (NASDAQ:PWP) CEO Sells $1,374,372.65 in Stock

Perella Weinberg Partners (NASDAQ:PWPGet Free Report) CEO Andrew Bednar sold 80,045 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $17.17, for a total transaction of $1,374,372.65. Following the transaction, the chief executive officer owned 1,139,013 shares of the company’s stock, valued at approximately $19,556,853.21. This represents a 6.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 transaction of $1,353,679.73.
  • 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 transaction of $1,352,326.64.

Perella Weinberg Partners Price Performance

Shares of NASDAQ PWP traded up $0.44 during midday trading on Friday, reaching $17.50. 1,474,581 shares of the stock were exchanged, compared to its average volume of 1,144,553. Perella Weinberg Partners has a 12 month low of $14.11 and a 12 month high of $25.92. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 67.31 and a beta of 1.64. The business has a 50-day simple moving average of $15.95 and a two-hundred day simple moving average of $18.36.

Perella Weinberg Partners (NASDAQ:PWPGet Free Report) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.06 by $0.14. The business had revenue of $156.53 million for the quarter, compared to the consensus estimate 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 28th will be issued 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 is 107.69%.

Wall Street Analyst Weigh In

PWP has been the topic of several recent analyst reports. Weiss Ratings upgraded Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Citizens Jmp dropped 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 reiterated 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. Finally, The Goldman Sachs Group increased their price objective on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.00.

View Our Latest Stock Report on PWP

Institutional Trading of Perella Weinberg Partners

Several large investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in Perella Weinberg Partners during the fourth quarter worth about $45,000. Torren Management LLC bought a new position in Perella Weinberg Partners during the fourth quarter worth $62,000. Kemnay Advisory Services Inc. bought a new stake in shares of Perella Weinberg Partners in the 4th quarter valued at $86,000. Tower Research Capital LLC TRC boosted its holdings in Perella Weinberg Partners by 460.5% in the second 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 in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in 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 during the period. 41.07% of the stock is owned by institutional investors and hedge funds.

Perella Weinberg Partners Company Profile

(Get Free Report)

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.

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