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

Perella Weinberg Partners (NASDAQ:PWP) President Dietrich Becker sold 442,889 shares of the firm’s stock in a transaction that occurred 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 directly owns 379,140 shares in the company, valued at $9,281,347.20. This represents a 53.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Perella Weinberg Partners Stock Down 1.2 %

Shares of PWP traded down $0.31 during mid-day trading on Friday, hitting $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 52 week low of $10.44 and a 52 week high of $25.96. The stock’s 50-day simple moving average is $20.68 and its 200-day simple moving average is $18.05.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. The business had revenue of $278.20 million for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 100.1% compared to the same quarter last year. During the same period last 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. Investors of record on Wednesday, December 4th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 1.10%. Perella Weinberg Partners’s dividend payout ratio (DPR) is -11.81%.

Institutional Trading of Perella Weinberg Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its position 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 buying an additional 1,753 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position 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 buying an additional 2,537 shares in the last quarter. California State Teachers Retirement System boosted its position 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 buying an additional 2,560 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 3,237 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities raised their target price 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.

About Perella Weinberg Partners

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.