Grandeur Peak Global Advisors LLC Sells 334,414 Shares of Perella Weinberg Partners $PWP

Grandeur Peak Global Advisors LLC lessened its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP) by 79.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,096 shares of the company’s stock after selling 334,414 shares during the quarter. Grandeur Peak Global Advisors LLC owned about 0.09% of Perella Weinberg Partners worth $1,422,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in Perella Weinberg Partners by 32.2% in the 2nd quarter. Wellington Management Group LLP now owns 5,189,199 shares of the company’s stock worth $82,820,000 after buying an additional 1,263,345 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Perella Weinberg Partners during the 2nd quarter valued at $1,217,000. Ranger Investment Management L.P. bought a new stake in shares of Perella Weinberg Partners during the 2nd quarter worth $5,139,000. Bank of America Corp DE grew its position in Perella Weinberg Partners by 41.6% in the first quarter. Bank of America Corp DE now owns 1,316,482 shares of the company’s stock worth $23,907,000 after acquiring an additional 386,473 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Perella Weinberg Partners by 61.5% in the first quarter. Janus Henderson Group PLC now owns 36,494 shares of the company’s stock worth $663,000 after acquiring an additional 13,900 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors.

Perella Weinberg Partners Price Performance

Shares of NASDAQ PWP opened at $16.98 on Monday. Perella Weinberg Partners has a 52 week low of $14.11 and a 52 week high of $25.92. The firm’s fifty day moving average is $16.30 and its 200 day moving average is $17.75. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 65.31 and a beta of 1.64.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.14. The business had revenue of $156.53 million during the quarter, compared to analysts’ expectations of $144.76 million. Perella Weinberg Partners had a net margin of 3.19% and a negative return on equity of 35.84%.

Perella Weinberg Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.28 annualized dividend and a dividend yield of 1.6%. Perella Weinberg Partners’s payout ratio is 107.69%.

Insider Activity

In related news, CEO Andrew Bednar sold 80,045 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $17.17, for a total transaction of $1,374,372.65. Following the completion of the transaction, the chief executive officer owned 1,139,013 shares in the company, valued at $19,556,853.21. This represents a 6.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 235,697 shares of company stock worth $4,080,379 over the last 90 days. 26.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen raised Perella Weinberg Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. The Goldman Sachs Group upped their price objective on Perella Weinberg Partners from $14.50 to $16.00 and gave the stock a “sell” rating in a report on Monday, August 3rd. Weiss Ratings lowered Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $21.00 price objective (up from $19.00) on shares of Perella Weinberg Partners in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.00.

About Perella Weinberg Partners

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.