Perella Weinberg Partners chairman sells $2.63 million in stock

Peter A. Weinberg, Chairman of Perella Weinberg Partners (NASDAQ:PWP), recently executed significant stock sales according to a freshly filed SEC Form 4. On April 1, Weinberg sold 101,018 shares of Class A Common Stock at a weighted average price of $18.45, with prices ranging from $17.97 to $18.75. The following day, April 2, he sold an additional 39,982 shares at an average price of $19.16, with transaction prices varying between $17.91 and $19.51. The sales come as PWP, currently valued at $1.48 billion, trades near its InvestingPro calculated Fair Value, despite showing strong revenue growth of 35% over the last twelve months. These transactions, carried out under a Rule 10b5-1 trading plan, amounted to a total of approximately $2.63 million. Post-transaction, Weinberg holds 137,621 shares indirectly through Red Hook Capital LLC. InvestingPro analysis reveals the stock has been notably volatile, with the price falling significantly over the last three months, though analysts remain optimistic, projecting profitability this year. Get access to 12 more exclusive ProTips and comprehensive financial analysis in the PWP Pro Research Report.

In other recent news, Perella Weinberg Partners reported record revenues of $878 million for the full year 2024, marking a 35% increase compared to the previous year. Despite this strong financial performance, the company’s stock experienced a decline in pre-market trading. The earnings call highlighted achievements in market positioning and service expansion, although challenges in maintaining cost efficiency were noted. Additionally, Perella Weinberg returned a record $282 million to equity holders, demonstrating strong capital management. Analyst Aidan Hall from Keefe, Bruyette & Woods raised the price target for Perella Weinberg to $29, maintaining an Outperform rating, citing the firm’s record-setting third-quarter results and constructive earnings call discussions. Hall’s analysis suggests confidence in Perella Weinberg’s long-term prospects and growth potential. The company’s adjusted compensation margin decreased to 67% from 70% in 2023, while adjusted non-compensation expenses rose by 13%. Looking ahead, Perella Weinberg anticipates continued activity in the M&A market, with expectations of single-digit growth in non-compensation expenses for 2025.

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