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Peter A. Weinberg, Chairman of Perella Weinberg Partners (NASDAQ:PWP), a $1.85 billion market cap financial services firm, recently sold a significant portion of his holdings in the company. According to a recent filing, Weinberg disposed of 81,870 shares on March 3 at a weighted average price of $22.57, and 59,130 shares on March 4 at a weighted average price of $21.03. These transactions, executed through Red Hook Capital LLC, amounted to a total of approximately $3.1 million. InvestingPro data shows the stock has experienced significant volatility recently, with a -7.59% return over the past week despite an impressive +60.79% gain over the last year.
Following these sales, Weinberg’s indirect ownership, held through Red Hook Capital LLC, was reduced to 278,621 shares. Additionally, on March 4, Weinberg disposed of 60,749 shares at $22.24 per share to satisfy tax withholding obligations, a transaction valued at approximately $1.35 million. This leaves him with a direct ownership of 1,966,744 shares in the company. According to InvestingPro’s Fair Value analysis, the stock is currently fairly valued, with additional ProTips and comprehensive analysis available in the Pro Research Report, which provides deep-dive insights into PWP’s financial health and market position.
In other recent news, Perella Weinberg Partners reported record revenues of $878 million for 2024, a 35% increase from the previous year. Despite this strong financial performance, the company’s stock price experienced a decline in pre-market trading. The firm’s earnings call highlighted significant achievements in market positioning and service expansion, although challenges in maintaining cost efficiency were noted. Analyst Aidan Hall from Keefe, Bruyette & Woods raised the price target for Perella Weinberg’s stock to $29, maintaining an Outperform rating, following the company’s record-setting third-quarter results.
Hall noted that the company’s fourth-quarter expectations aligned with actual outcomes, despite a volatile operating environment. The firm returned a record $282 million to equity holders and maintained a strong competitive position, ranking as the #4 boutique by global deal volume. Looking forward, Perella Weinberg anticipates continued activity in the M&A market, with expectations of single-digit growth in non-compensation expenses for 2025. The company is targeting a mid-60s compensation margin over the long term and remains optimistic about opportunities in the sponsor and restructuring markets.
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