Cubist Systematic Strategies LLC Purchases New Shares in Perella Weinberg Partners (NASDAQ:PWP)

Cubist Systematic Strategies LLC purchased a new position in Perella Weinberg Partners (NASDAQ:PWP) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 46,867 shares of the company’s stock, valued at approximately $1,117,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PWP. Quadrant Capital Group LLC raised its position in Perella Weinberg Partners by 43.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company’s stock worth $37,000 after acquiring an additional 470 shares during the period. Venturi Wealth Management LLC acquired a new position in Perella Weinberg Partners during the fourth quarter worth $64,000. Meeder Asset Management Inc. acquired a new position in Perella Weinberg Partners during the fourth quarter worth $179,000. KLP Kapitalforvaltning AS acquired a new position in Perella Weinberg Partners during the fourth quarter worth $248,000. Finally, Captrust Financial Advisors acquired a new position in Perella Weinberg Partners during the fourth quarter worth $248,000. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Stock Performance

Shares of PWP stock opened at $19.41 on Wednesday. The stock’s fifty day moving average is $17.72 and its two-hundred day moving average is $21.90. The firm has a market capitalization of $1.68 billion, a P/E ratio of -12.28 and a beta of 1.69. Perella Weinberg Partners has a fifty-two week low of $13.82 and a fifty-two week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.07. The company had revenue of $211.83 million for the quarter, compared to analyst estimates of $200.29 million. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. During the same quarter last year, the firm posted ($0.10) EPS.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th will be issued a $0.07 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.44%. Perella Weinberg Partners’s payout ratio is currently -65.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities reduced their price objective on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group reduced their price objective on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods decreased their price objective on Perella Weinberg Partners from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday.

Perella Weinberg Partners 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.