Insider Selling: Perella Weinberg Partners (NASDAQ:PWP) CEO Sells $1,353,679.73 in Stock

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 77,753 shares of Perella Weinberg Partners 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 transaction, the chief executive officer directly owned 1,061,260 shares of the company’s stock, valued at $18,476,536.60. This represents a 6.83% 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 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 stock was sold at an average price of $17.36, for a total value of $1,352,326.64.

Perella Weinberg Partners Trading Up 2.6%

Perella Weinberg Partners stock traded up $0.44 during mid-day trading on Friday, hitting $17.50. The stock had a trading volume of 1,474,581 shares, compared to its average volume of 1,144,553. The stock has a 50-day simple moving average of $15.95 and a two-hundred day simple moving average of $18.36. The stock has a market capitalization of $1.63 billion, a PE ratio of 67.31 and a beta of 1.64. 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 released its earnings results on Friday, July 31st. The company reported $0.20 earnings per share (EPS) 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 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 firm also recently announced 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 dividend yield of 1.6%. Perella Weinberg Partners’s payout ratio is presently 107.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PWP. Los Angeles Capital Management LLC acquired a new stake in shares of Perella Weinberg Partners during the fourth quarter worth about $45,000. Torren Management LLC bought a new stake in Perella Weinberg Partners during the 4th quarter worth approximately $62,000. Kemnay Advisory Services Inc. acquired a new stake in Perella Weinberg Partners during the 4th quarter worth approximately $86,000. Tower Research Capital LLC TRC lifted its stake 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 valued at $100,000 after buying an additional 4,232 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of 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 buying an additional 1,338 shares during the period. 41.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PWP shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $21.00 price objective (up from $19.00) on shares of Perella Weinberg Partners in a research note on Monday. Citizens Jmp decreased 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 report on Friday, April 10th. The Goldman Sachs Group increased their price target on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Monday. Finally, Weiss Ratings upgraded shares of Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Perella Weinberg Partners currently has an average rating of “Hold” and a consensus 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.