Perella Weinberg Partners (NASDAQ:PWP) President Sells $10,841,922.72 in Stock

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

Perella Weinberg Partners Trading Up 2.7 %

Shares of NASDAQ PWP traded up $0.68 during mid-day trading on Thursday, reaching $25.73. 705,173 shares of the company’s stock were exchanged, compared to its average volume of 427,233. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -10.86 and a beta of 1.49. Perella Weinberg Partners has a twelve month low of $10.44 and a twelve month high of $25.96. The business has a fifty day simple moving average of $20.54 and a 200 day simple moving average of $17.99.

Perella Weinberg Partners (NASDAQ:PWP) last issued its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. Perella Weinberg Partners had a positive return on equity of 80.95% and a negative net margin of 11.09%. The business had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $196.42 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.07 per share. 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 payout ratio is -11.81%.

Wall Street Analysts Forecast Growth

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 research note on Wednesday, October 9th.

Institutional Trading of Perella Weinberg Partners

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 purchasing an additional 5,379 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Perella Weinberg Partners by 16.6% in the 1st 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 in the last quarter. Intech Investment Management LLC bought a new position in Perella Weinberg Partners in the 3rd quarter valued at approximately $197,000. PDT Partners LLC bought a new position in shares of Perella Weinberg Partners during the 3rd quarter valued at $210,000. Finally, Arizona State Retirement System increased its stake in shares of Perella Weinberg Partners by 15.3% in the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock worth $212,000 after purchasing an additional 1,724 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

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.