Point72 Asset Management L.P. Makes New Investment in Perella Weinberg Partners (NASDAQ:PWP)

Point72 Asset Management L.P. purchased a new position in shares of Perella Weinberg Partners (NASDAQ:PWP) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 11,881 shares of the company’s stock, valued at approximately $283,000.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC boosted its stake in Perella Weinberg Partners by 3.8% during the fourth quarter. FMR LLC now owns 8,181,941 shares of the company’s stock worth $195,057,000 after buying an additional 301,587 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Perella Weinberg Partners by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company’s stock valued at $75,426,000 after acquiring an additional 260,319 shares during the period. Azora Capital LP lifted its holdings in shares of Perella Weinberg Partners by 3.4% during the fourth quarter. Azora Capital LP now owns 2,492,789 shares of the company’s stock valued at $59,428,000 after acquiring an additional 81,747 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Perella Weinberg Partners by 13.7% during the fourth quarter. Wellington Management Group LLP now owns 1,316,562 shares of the company’s stock valued at $31,387,000 after acquiring an additional 158,957 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Perella Weinberg Partners by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,281,969 shares of the company’s stock valued at $30,569,000 after acquiring an additional 24,349 shares during the period. Institutional investors and hedge funds own 41.07% of the company’s stock.

Perella Weinberg Partners Stock Down 0.6%

Perella Weinberg Partners stock opened at $17.53 on Friday. The stock has a 50-day simple moving average of $17.58 and a 200 day simple moving average of $21.77. Perella Weinberg Partners has a 12-month low of $13.82 and a 12-month high of $27.03. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -11.09 and a beta of 1.69.

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

Perella Weinberg Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Wednesday, May 14th will be given 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 yield of 1.60%. Perella Weinberg Partners’s payout ratio is presently -65.12%.

Wall Street Analyst Weigh In

PWP has been the subject of a number of analyst reports. Wall Street Zen cut Perella Weinberg Partners from a “buy” rating to a “hold” rating in a report on Saturday. The Goldman Sachs Group lifted their price target on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a “sell” rating in a report on Thursday, May 15th. Keefe, Bruyette & Woods cut their price target on Perella Weinberg Partners from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, May 12th. Finally, JMP Securities cut their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th.

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.