Cubist Systematic Strategies LLC Acquires New Position in Perella Weinberg Partners (NASDAQ:PWP)

Cubist Systematic Strategies LLC acquired a new stake in Perella Weinberg Partners (NASDAQ:PWP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 46,867 shares of the company’s stock, valued at approximately $1,117,000. Cubist Systematic Strategies LLC owned about 0.05% of Perella Weinberg Partners as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PWP. Quadrant Capital Group LLC raised its position in shares of Perella Weinberg Partners by 43.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company’s stock valued at $37,000 after purchasing an additional 470 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Perella Weinberg Partners in the 4th quarter valued at approximately $64,000. Meeder Asset Management Inc. purchased a new position in shares of Perella Weinberg Partners in the 4th quarter valued at approximately $179,000. KLP Kapitalforvaltning AS purchased a new position in shares of Perella Weinberg Partners in the 4th quarter valued at approximately $248,000. Finally, Captrust Financial Advisors purchased a new position in shares of Perella Weinberg Partners in the 4th quarter valued at approximately $248,000. 41.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PWP. JMP Securities cut their price target on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group cut their price target on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods cut their price target on shares of 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 Trading Up 2.8%

Shares of NASDAQ:PWP opened at $19.41 on Wednesday. Perella Weinberg Partners has a twelve month low of $13.82 and a twelve month high of $27.03. The company’s 50 day moving average is $17.72 and its 200 day moving average is $21.90. The company has a market cap of $1.68 billion, a PE ratio of -12.28 and a beta of 1.69.

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

Perella Weinberg Partners Announces Dividend

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

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.