Perella Weinberg Partners (NASDAQ:PWP) President Dietrich Becker Sells 177,553 Shares

Key Points

• Dietrich Becker, President of Perella Weinberg Partners, sold $3.94 million worth of stock, reducing his ownership by 32.52%.
• Perella Weinberg Partners reported $0.09 EPS for the recent quarter, missing analyst estimates of $0.16, along with a revenue of $155.27 million.
• The company declared a quarterly dividend of $0.07 per share, resulting in a 1.2% dividend yield, with a payout ratio of 34.15%.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) President Dietrich Becker sold 177,553 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $22.20, for a total transaction of $3,941,676.60. Following the transaction, the president directly owned 368,469 shares in the company, valued at approximately $8,180,011.80. The trade was a 32.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Perella Weinberg Partners Trading Down 2.4%

NASDAQ PWP traded down $0.54 during trading hours on Friday, reaching $21.81. The company had a trading volume of 673,304 shares, compared to its average volume of 1,311,007. The stock has a 50-day moving average of $20.14 and a 200 day moving average of $19.67. Perella Weinberg Partners has a 1-year low of $14.12 and a 1-year high of $27.03. The stock has a market capitalization of $1.91 billion, a P/E ratio of 26.60 and a beta of 1.66.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.07). Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 26.14%. The company had revenue of $155.27 million during the quarter, compared to analyst estimates of $188.06 million.

Perella Weinberg Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. Perella Weinberg Partners's dividend payout ratio is 34.15%.

Institutional Trading of Perella Weinberg Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the business. LPL Financial LLC increased its stake in shares of Perella Weinberg Partners by 22.7% during the fourth quarter. LPL Financial LLC now owns 54,917 shares of the company's stock worth $1,309,000 after buying an additional 10,173 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Perella Weinberg Partners by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,281,969 shares of the company's stock valued at $30,569,000 after acquiring an additional 24,349 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Perella Weinberg Partners by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 62,723 shares of the company's stock valued at $1,495,000 after acquiring an additional 20,868 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Perella Weinberg Partners by 30.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 24,958 shares of the company's stock worth $595,000 after purchasing an additional 5,761 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Perella Weinberg Partners during the fourth quarter worth $18,493,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Perella Weinberg Partners from $23.00 to $24.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. The Goldman Sachs Group upped their target price on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen cut shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th.

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.