Dietrich Becker Sells 442,889 Shares of Perella Weinberg Partners (NASDAQ:PWP) Stock

Perella Weinberg Partners (NASDAQ:PWP) President Dietrich Becker sold 442,889 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the transaction, the president now directly owns 379,140 shares in the company, valued at approximately $9,281,347.20. This represents a 53.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Perella Weinberg Partners Price Performance

PWP stock opened at $25.25 on Friday. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -10.65 and a beta of 1.49. The company has a 50-day moving average of $20.82 and a two-hundred day moving average of $18.12. Perella Weinberg Partners has a 52-week low of $10.44 and a 52-week high of $25.96.

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. The firm had revenue of $278.20 million during the quarter, compared to the consensus estimate of $196.42 million. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The firm’s revenue for the quarter was up 100.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 EPS.

Perella Weinberg Partners Dividend Announcement

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Perella Weinberg Partners

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Perella Weinberg Partners by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 2,491,989 shares of the company’s stock worth $35,212,000 after purchasing an additional 155,855 shares during the period. Russell Investments Group Ltd. raised its holdings 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 valued at $15,744,000 after acquiring an additional 166,168 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Perella Weinberg Partners by 160.3% in the 1st quarter. Janus Henderson Group PLC now owns 90,715 shares of the company’s stock worth $1,280,000 after acquiring an additional 55,862 shares during the period. Westwood Holdings Group Inc. acquired a new stake in shares of Perella Weinberg Partners during the 2nd quarter worth approximately $35,715,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Perella Weinberg Partners by 21.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 354,326 shares of the company’s stock valued at $5,007,000 after purchasing an additional 61,975 shares during the period. 41.07% of the stock is currently owned by institutional investors and hedge funds.

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.