Key Points
- CEO Andrew Bednar sold 77,899 PWP shares for approximately $1.35 million, reducing his direct stake by 6.01% to 1.22 million shares. The sale covered tax-withholding obligations related to vested equity awards, and followed two additional sales totaling about $2.73 million.
- Perella Weinberg Partners reported quarterly EPS of $0.20, beating the $0.06 consensus estimate, while revenue of $156.53 million also exceeded expectations.
- PWP shares opened at $17.50, up 2.6%, while the company declared a quarterly dividend of $0.07 per share. Analysts’ consensus rating remains “Hold”, with an average price target of $22.00.
Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) CEO Andrew Bednar sold 77,899 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $17.36, for a total value of $1,352,326.64. Following the transaction, the chief executive officer directly owned 1,219,058 shares in the company, valued at approximately $21,162,846.88. This represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Andrew Bednar also recently made the following trade(s):
- On Friday, August 7th, Andrew Bednar sold 77,753 shares of Perella Weinberg Partners stock. The stock was sold at an average price of $17.41, for a total value of $1,353,679.73.
- On Thursday, August 6th, Andrew Bednar sold 80,045 shares of Perella Weinberg Partners stock. The stock was sold at an average price of $17.17, for a total value of $1,374,372.65.
Perella Weinberg Partners Stock Up 2.6%
PWP opened at $17.50 on Friday. The business has a fifty day moving average of $15.95 and a 200 day moving average of $18.35. The stock has a market cap of $1.63 billion, a P/E ratio of 67.31 and a beta of 1.64. Perella Weinberg Partners has a 52-week low of $14.11 and a 52-week high of $25.92.
Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.14. Perella Weinberg Partners had a negative return on equity of 35.84% and a net margin of 3.19%.The business had revenue of $156.53 million for the quarter, compared to analyst estimates of $144.76 million.
Perella Weinberg Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 28th will be issued a $0.07 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. Perella Weinberg Partners's dividend payout ratio is presently 107.69%.
Institutional Investors Weigh In On Perella Weinberg Partners
Hedge funds have recently made changes to their positions in the company. William Blair Investment Management LLC grew its position in shares of Perella Weinberg Partners by 10.6% during the 4th quarter. William Blair Investment Management LLC now owns 3,946,163 shares of the company's stock worth $68,269,000 after buying an additional 379,652 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Perella Weinberg Partners by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 3,722,756 shares of the company's stock valued at $64,404,000 after acquiring an additional 241,363 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Perella Weinberg Partners by 73.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company's stock valued at $60,911,000 after acquiring an additional 1,328,312 shares in the last quarter. Nuveen LLC lifted its stake in Perella Weinberg Partners by 29.2% in the fourth quarter. Nuveen LLC now owns 2,861,405 shares of the company's stock worth $49,502,000 after acquiring an additional 646,143 shares during the period. Finally, State Street Corp lifted its stake in Perella Weinberg Partners by 2.2% in the fourth quarter. State Street Corp now owns 1,798,302 shares of the company's stock worth $31,111,000 after acquiring an additional 39,544 shares during the period. 41.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently commented on PWP. The Goldman Sachs Group raised their price target on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a "sell" rating in a research note on Monday. Citizens Jmp dropped their target price on shares of Perella Weinberg Partners from $32.00 to $30.00 and set a "market outperform" rating on the stock in a research note on Friday, April 10th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $21.00 target price (up from $19.00) on shares of Perella Weinberg Partners in a research report on Monday, August 3rd. Finally, Weiss Ratings raised shares of Perella Weinberg Partners from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.00.
View Our Latest Stock Analysis on PWP
About Perella Weinberg Partners
(
Get Free Report)
Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.
The firm's core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.
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