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

by · The Cerbat Gem

Perella Weinberg Partners (NASDAQ:PWP – Get Free Report) CEO Andrew Bednar sold 300,579 shares of the firm’s stock in a transaction 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 owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. This represents a 34.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Perella Weinberg Partners Stock Up 2.7 %

Shares of PWP stock traded up $0.68 during mid-day trading on Thursday, reaching $25.73. The stock had a trading volume of 705,173 shares, compared to its average volume of 427,233. The firm’s 50 day simple moving average is $20.54 and its 200 day simple moving average is $17.99. Perella Weinberg Partners has a one year low of $10.44 and a one year high of $25.96. The firm has a market cap of $2.21 billion, a PE ratio of -10.86 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP – Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.14. The business had revenue of $278.20 million for the quarter, compared to analyst estimates of $196.42 million. Perella Weinberg Partners had a positive return on equity of 80.95% and a negative net margin of 11.09%. The firm’s revenue was up 100.1% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS.

Perella Weinberg Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio is presently -11.81%.

Institutional Investors Weigh In On Perella Weinberg Partners

Several hedge funds have recently modified their holdings of PWP. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Perella Weinberg Partners by 122.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock valued at $159,000 after purchasing an additional 5,379 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Perella Weinberg Partners by 16.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock worth $174,000 after buying an additional 1,753 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Perella Weinberg Partners during the third quarter valued at approximately $197,000. PDT Partners LLC bought a new position in Perella Weinberg Partners in the third quarter worth approximately $210,000. Finally, Arizona State Retirement System raised its position in shares of Perella Weinberg Partners by 15.3% during the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after purchasing an additional 1,724 shares during the period. Institutional investors and hedge funds own 41.07% of the company’s stock.

Analyst Ratings Changes

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 report on Wednesday, October 9th.

Read Our Latest Stock Analysis on PWP

About Perella Weinberg Partners

(Get Free Report)

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.

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