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

Perella Weinberg Partners (NASDAQ:PWP) CEO Andrew Bednar sold 300,579 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction 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 $13,865,129.28. This represents a 34.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ:PWP traded down $0.31 during midday trading on Friday, hitting $25.42. 19,745 shares of the stock traded hands, compared to its average volume of 425,397. The business’s 50 day moving average is $20.68 and its two-hundred day moving average is $18.05. Perella Weinberg Partners has a one year low of $10.44 and a one year high of $25.96.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS 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 net margin of 11.09% and a negative return on equity of 295.65%. The company’s quarterly revenue was up 100.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 earnings per share.

Perella Weinberg Partners Announces Dividend

The company 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio (DPR) is -11.81%.

Hedge Funds Weigh In On Perella Weinberg Partners

Several hedge funds and other institutional investors have recently modified their holdings of the company. Azora Capital LP raised its stake in shares of Perella Weinberg Partners by 4.8% during the third quarter. Azora Capital LP now owns 2,411,042 shares of the company’s stock valued at $46,557,000 after acquiring an additional 110,370 shares during the last quarter. Wasatch Advisors LP increased its position in shares of Perella Weinberg Partners by 13.3% during the third quarter. Wasatch Advisors LP now owns 1,483,429 shares of the company’s stock valued at $28,645,000 after buying an additional 174,445 shares during the period. PDT Partners LLC purchased a new position in shares of Perella Weinberg Partners during the third quarter valued at about $210,000. Verition Fund Management LLC purchased a new position in shares of Perella Weinberg Partners during the third quarter valued at about $333,000. Finally, PEAK6 Investments LLC increased its position in shares of Perella Weinberg Partners by 96.8% during the third quarter. PEAK6 Investments LLC now owns 65,768 shares of the company’s stock valued at $1,270,000 after buying an additional 32,356 shares during the period. 41.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.