Crestline Management LP Takes Position in Perella Weinberg Partners (NASDAQ:PWP)

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

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in shares of Perella Weinberg Partners by 43.9% during 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 bought a new stake in Perella Weinberg Partners during the 4th quarter valued at $64,000. Meeder Asset Management Inc. purchased a new stake in shares of Perella Weinberg Partners in the 4th quarter worth $179,000. KLP Kapitalforvaltning AS bought a new position in shares of Perella Weinberg Partners during the 4th quarter worth $248,000. Finally, Captrust Financial Advisors purchased a new stake in Perella Weinberg Partners in the fourth quarter worth about $248,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PWP shares. Keefe, Bruyette & Woods lowered their price target on shares of Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday. The Goldman Sachs Group decreased their price target 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, 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 note on Tuesday, April 8th.

Perella Weinberg Partners Stock Up 6.8%

Shares of PWP traded up $1.20 during trading hours on Monday, reaching $18.88. 1,651,310 shares of the company traded hands, compared to its average volume of 623,061. The stock has a market capitalization of $1.64 billion, a P/E ratio of -11.95 and a beta of 1.69. The business has a fifty day moving average price of $17.79 and a 200-day moving average price of $21.92. Perella Weinberg Partners has a 12-month low of $13.82 and a 12-month high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.07. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. The firm had revenue of $211.83 million during the quarter, compared to analysts' expectations of $200.29 million. During the same quarter last year, the company posted ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The firm also recently announced 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. This represents a $0.28 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Wednesday, May 14th. Perella Weinberg Partners's payout ratio is -65.12%.

Perella Weinberg Partners Company 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.