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 Perella Weinberg Partners stock in a transaction on Friday, August 8th. The stock was sold at an average price of $22.20, for a total value of $3,941,676.60. Following the sale, the president directly owned 368,469 shares of the company's stock, valued at approximately $8,180,011.80. This trade represents a 32.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Perella Weinberg Partners Price Performance

NASDAQ PWP traded down $0.54 on Friday, reaching $21.81. The stock had a trading volume of 673,304 shares, compared to its average volume of 1,282,120. Perella Weinberg Partners has a 1-year low of $14.12 and a 1-year high of $27.03. The company has a market cap of $1.91 billion, a P/E ratio of 26.60 and a beta of 1.66. The firm has a fifty day moving average of $20.14 and a two-hundred day moving average of $19.63.

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

Perella Weinberg Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a $0.07 dividend. The ex-dividend date of this dividend 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 (DPR) is 34.15%.

Hedge Funds Weigh In On Perella Weinberg Partners

A number of hedge funds have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Perella Weinberg Partners by 73.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company's stock worth $60,911,000 after buying an additional 1,328,312 shares in the last quarter. Wellington Management Group LLP boosted its stake in Perella Weinberg Partners by 128.6% during the first quarter. Wellington Management Group LLP now owns 3,009,484 shares of the company's stock valued at $55,375,000 after buying an additional 1,692,922 shares during the last quarter. Azora Capital LP lifted its stake in shares of Perella Weinberg Partners by 3.4% during the 4th quarter. Azora Capital LP now owns 2,492,789 shares of the company's stock worth $59,428,000 after acquiring an additional 81,747 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Perella Weinberg Partners by 70.0% during the 2nd quarter. William Blair Investment Management LLC now owns 2,268,265 shares of the company's stock worth $44,050,000 after purchasing an additional 934,382 shares during the period. Finally, Channing Capital Management LLC increased its holdings in Perella Weinberg Partners by 215.2% during the 1st quarter. Channing Capital Management LLC now owns 2,142,888 shares of the company's stock worth $39,429,000 after purchasing an additional 1,463,083 shares during the period. Institutional investors and hedge funds own 41.07% of the company's stock.

Analyst Upgrades and Downgrades

PWP has been the subject of several research reports. Keefe, Bruyette & Woods upped their target price on shares of Perella Weinberg Partners from $23.00 to $24.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Wall Street Zen downgraded shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, The Goldman Sachs Group raised their target price on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a report on Thursday, May 15th.

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.