Perella Weinberg Partners (NASDAQ:PWP) CEO Sells $7,358,173.92 in Stock

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 300,579 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $7,358,173.92. Following the completion of the transaction, the chief executive officer now directly owns 566,386 shares in the company, valued at approximately $13,865,129.28. This trade represents a 34.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Perella Weinberg Partners Stock Down 1.9 %

Shares of NASDAQ:PWP opened at $25.25 on Friday. Perella Weinberg Partners has a twelve month low of $10.44 and a twelve month high of $25.96. The stock’s 50 day moving average is $20.82 and its 200-day moving average is $18.14. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -10.65 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $278.20 million for the quarter, compared to analyst estimates of $196.42 million. During the same period in the prior year, the firm earned $0.12 earnings per share. Perella Weinberg Partners’s revenue for the quarter 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. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Wednesday, December 4th. Perella Weinberg Partners’s payout ratio is -11.81%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Perella Weinberg Partners

Several institutional investors have recently bought and sold shares of PWP. Westwood Holdings Group Inc. bought a new stake in Perella Weinberg Partners during the second quarter worth $35,715,000. Millennium Management LLC grew its holdings in Perella Weinberg Partners by 2,883.9% during the second quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock worth $28,012,000 after buying an additional 1,666,015 shares in the last quarter. William Blair Investment Management LLC bought a new stake in Perella Weinberg Partners during the second quarter worth $20,198,000. Wellington Management Group LLP grew its stake in Perella Weinberg Partners by 200.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,157,605 shares of the company’s stock valued at $22,353,000 after purchasing an additional 771,736 shares during the period. Finally, Boston Partners grew its stake in Perella Weinberg Partners by 247.7% in the 1st quarter. Boston Partners now owns 534,968 shares of the company’s stock valued at $7,568,000 after purchasing an additional 381,091 shares during the period. Institutional investors own 41.07% of the company’s stock.

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.