Insider Selling: Perella Weinberg Partners (NASDAQ:PWP) President Sells 442,889 Shares of Stock

Perella Weinberg Partners (NASDAQ:PWP) President Dietrich Becker sold 442,889 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total value of $10,841,922.72. Following the completion of the transaction, the president now directly owns 379,140 shares of the company’s stock, valued at approximately $9,281,347.20. The trade was a 53.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Perella Weinberg Partners Stock Down 1.9 %

Shares of PWP stock opened at $25.25 on Friday. The stock has a 50-day simple moving average of $20.82 and a 200 day simple moving average of $18.14. Perella Weinberg Partners has a fifty-two week low of $10.44 and a fifty-two week high of $25.96. The stock has a market capitalization of $2.17 billion, a P/E ratio of -10.65 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.14. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The business had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $196.42 million. During the same quarter last year, the business posted $0.12 earnings per share. The company’s quarterly revenue was up 100.1% on a year-over-year basis.

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.07 per share. The ex-dividend date is Wednesday, December 4th. This represents a $0.28 annualized dividend and a yield of 1.11%. Perella Weinberg Partners’s dividend payout ratio is currently -11.81%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities increased their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th.

Institutional Investors Weigh In On Perella Weinberg Partners

Several hedge funds have recently modified their holdings of PWP. Allspring Global Investments Holdings LLC lifted its holdings in shares of Perella Weinberg Partners by 27.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock valued at $215,000 after purchasing an additional 3,237 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Perella Weinberg Partners by 13.4% during the first quarter. Swiss National Bank now owns 90,400 shares of the company’s stock valued at $1,277,000 after purchasing an additional 10,700 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Perella Weinberg Partners by 9.4% during the first quarter. Sei Investments Co. now owns 83,735 shares of the company’s stock valued at $1,183,000 after purchasing an additional 7,203 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Perella Weinberg Partners by 17.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,114,240 shares of the company’s stock worth $15,744,000 after acquiring an additional 166,168 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in Perella Weinberg Partners by 21.2% in the 1st quarter. Bleakley Financial Group LLC now owns 22,502 shares of the company’s stock worth $318,000 after acquiring an additional 3,930 shares in 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, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.