Dietrich Becker Sells 442,889 Shares of Perella Weinberg Partners (NASDAQ:PWP) Stock

Perella Weinberg Partners (NASDAQ:PWP) President Dietrich Becker sold 442,889 shares of Perella Weinberg Partners stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Perella Weinberg Partners Price Performance

Shares of NASDAQ:PWP traded down $0.31 during mid-day trading on Friday, reaching $25.42. 19,745 shares of the company’s stock were exchanged, compared to its average volume of 425,397. Perella Weinberg Partners has a twelve month low of $10.44 and a twelve month high of $25.96. The business’s fifty day moving average price is $20.68 and its 200-day moving average price is $18.05.

Perella Weinberg Partners (NASDAQ:PWP) last released its earnings results on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating 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 negative net margin of 11.09% and a negative return on equity of 295.65%. Perella Weinberg Partners’s revenue for the quarter was up 100.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 earnings per share.

Perella Weinberg Partners Announces Dividend

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

Hedge Funds Weigh In On Perella Weinberg Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in Perella Weinberg Partners by 15.3% in the second 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 during the period. Price T Rowe Associates Inc. MD increased 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 valued at $174,000 after purchasing an additional 1,753 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Perella Weinberg Partners by 17.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock valued at $272,000 after purchasing an additional 2,537 shares in the last quarter. California State Teachers Retirement System increased its stake in Perella Weinberg Partners by 6.0% in the first quarter. California State Teachers Retirement System now owns 45,448 shares of the company’s stock valued at $642,000 after purchasing an additional 2,560 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Perella Weinberg Partners by 27.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,212 shares of the company’s stock valued at $215,000 after purchasing an additional 3,237 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JMP Securities lifted 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 report 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.