Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar Sells 77,899 Shares

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 77,899 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $17.36, for a total transaction of $1,352,326.64. Following the sale, the chief executive officer owned 1,219,058 shares in the company, valued at approximately $21,162,846.88. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 Thursday, August 6th, Andrew Bednar sold 80,045 shares of Perella Weinberg Partners stock. The stock was sold at an average price of $17.17, for a total transaction of $1,374,372.65.

Perella Weinberg Partners Stock Performance

PWP traded up $0.44 during trading on Friday, reaching $17.50. The stock had a trading volume of 1,474,581 shares, compared to its average volume of 1,144,553. The business has a 50-day moving average of $15.95 and a 200-day moving average of $18.36. Perella Weinberg Partners has a one year low of $14.11 and a one year high of $25.92. The stock has a market cap of $1.63 billion, a PE 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 (EPS) for the quarter, topping 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 firm had revenue of $156.53 million during the quarter, compared to analyst estimates of $144.76 million.

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 28th will be given a $0.07 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. Perella Weinberg Partners’s payout ratio is presently 107.69%.

Institutional Trading of Perella Weinberg Partners

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its holdings in shares of Perella Weinberg Partners by 79.1% in the first quarter. AQR Capital Management LLC now owns 23,435 shares of the company’s stock worth $431,000 after purchasing an additional 10,350 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Perella Weinberg Partners by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company’s stock valued at $566,000 after buying an additional 1,342 shares during the last quarter. Jane Street Group LLC purchased a new stake in Perella Weinberg Partners during the 1st quarter valued at $2,577,000. Legal & General Group Plc grew its holdings in Perella Weinberg Partners by 24.3% in the 2nd quarter. Legal & General Group Plc now owns 59,874 shares of the company’s stock worth $1,163,000 after acquiring an additional 11,693 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Perella Weinberg Partners by 12.1% in the second quarter. Rhumbline Advisers now owns 81,588 shares of the company’s stock valued at $1,584,000 after acquiring an additional 8,787 shares during the period. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PWP shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $21.00 price target (up from $19.00) on shares of Perella Weinberg Partners in a research report on Monday. The Goldman Sachs Group lifted their target price 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. Citizens Jmp lowered 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, Weiss Ratings upgraded shares of Perella Weinberg Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.00.

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.