Andrew Bednar Sells 300,579 Shares of Perella Weinberg Partners (NASDAQ:PWP) Stock

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 300,579 shares of the 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 sale, the chief executive officer now directly owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. The trade was a 34.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Perella Weinberg Partners Stock Down 1.9 %

NASDAQ:PWP opened at $25.25 on Friday. Perella Weinberg Partners has a 12-month low of $10.44 and a 12-month high of $25.96. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -10.65 and a beta of 1.49. The stock’s 50 day moving average price is $20.82 and its two-hundred day moving average price is $18.12.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $196.42 million. During the same quarter in the prior year, the business earned $0.12 EPS. The firm’s revenue for the quarter was up 100.1% on a year-over-year basis.

Perella Weinberg Partners Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, JMP Securities increased their price target on shares of 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Perella Weinberg Partners by 122.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock worth $159,000 after acquiring an additional 5,379 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Perella Weinberg Partners by 16.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock worth $174,000 after purchasing an additional 1,753 shares during the period. Intech Investment Management LLC acquired a new stake in Perella Weinberg Partners during the 3rd quarter worth approximately $197,000. PDT Partners LLC bought a new stake in Perella Weinberg Partners in the 3rd quarter valued at $210,000. Finally, Arizona State Retirement System grew its holdings in Perella Weinberg Partners by 15.3% in the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after buying an additional 1,724 shares in the last quarter. Institutional investors and hedge funds 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.