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

Grandeur Peak Global Advisors LLC cut its stake in Perella Weinberg Partners (NASDAQ:PWP) by 79.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 89,096 shares of the company’s stock after selling 334,414 shares during the quarter. Grandeur Peak Global Advisors LLC’s holdings in Perella Weinberg Partners were worth $1,422,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PWP. Los Angeles Capital Management LLC bought a new position in shares of Perella Weinberg Partners in the 4th quarter worth approximately $45,000. Kemnay Advisory Services Inc. bought a new stake in shares of Perella Weinberg Partners during the fourth quarter valued at approximately $86,000. Tower Research Capital LLC TRC grew its stake in Perella Weinberg Partners by 460.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock worth $100,000 after purchasing an additional 4,232 shares during the period. PNC Financial Services Group Inc. lifted its position in Perella Weinberg Partners by 24.3% during the first quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock valued at $124,000 after buying an additional 1,338 shares during the period. Finally, Alpine Global Management LLC purchased a new stake in shares of Perella Weinberg Partners in the 4th quarter worth about $181,000. 41.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Andrew Bednar sold 80,045 shares of Perella Weinberg Partners stock in a transaction 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 transaction, the chief executive officer directly owned 1,139,013 shares in the company, valued at approximately $19,556,853.21. The trade was a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 in the last quarter. 26.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Perella Weinberg Partners Stock Performance

NASDAQ:PWP opened at $16.98 on Monday. Perella Weinberg Partners has a 12 month low of $14.11 and a 12 month high of $25.92. The company has a market cap of $1.60 billion, a PE ratio of 65.31 and a beta of 1.64. The company has a 50 day simple moving average of $16.30 and a two-hundred day simple moving average of $17.75.

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

Perella Weinberg Partners Announces Dividend

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

Perella Weinberg Partners Company Profile

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.