Crestline Management LP Invests $980,000 in Perella Weinberg Partners (NASDAQ:PWP)

Crestline Management LP purchased a new position in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,110 shares of the company's stock, valued at approximately $980,000.

Several other hedge funds and other institutional investors have also modified their holdings of PWP. Quadrant Capital Group LLC boosted its holdings in Perella Weinberg Partners by 43.9% in the fourth 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 period. Venturi Wealth Management LLC acquired a new stake in Perella Weinberg Partners in the fourth quarter valued at $64,000. Meeder Asset Management Inc. acquired a new stake in Perella Weinberg Partners in the fourth quarter valued at $179,000. KLP Kapitalforvaltning AS acquired a new stake in Perella Weinberg Partners in the fourth quarter valued at $248,000. Finally, Captrust Financial Advisors acquired a new stake in Perella Weinberg Partners in the fourth quarter valued at $248,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PWP. Keefe, Bruyette & Woods cut their price target on Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday. The Goldman Sachs Group cut their target price on Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating on the stock in a research report on Wednesday, April 2nd. Finally, JMP Securities cut their target price on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th.

Perella Weinberg Partners Price Performance

Shares of PWP traded up $0.20 during midday trading on Wednesday, reaching $19.54. 378,641 shares of the stock were exchanged, compared to its average volume of 626,853. The business's 50-day moving average price is $17.72 and its 200 day moving average price is $21.90. Perella Weinberg Partners has a twelve month low of $13.82 and a twelve month high of $27.03. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -12.37 and a beta of 1.69.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its earnings results 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 return on equity of 72.27% and a negative net margin of 7.37%. During the same quarter in the previous year, the firm earned ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Wednesday, May 14th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, May 14th. Perella Weinberg Partners's dividend payout ratio (DPR) is presently -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.