Cubist Systematic Strategies LLC Boosts Stock Position in Perella Weinberg Partners $PWP

Key Points

• Cubist Systematic Strategies LLC increased its stake in Perella Weinberg Partners by 55.8% in Q1, holding 73,030 shares valued at approximately $1.34 million.
• Perella Weinberg Partners reported a quarterly loss of $0.09 earnings per share, missing estimates, with revenue of $155.27 million compared to expectations of $188.06 million.
• The company declared a quarterly dividend of $0.07 per share, representing an annualized yield of 1.3% and a payout ratio of 34.15%.

Cubist Systematic Strategies LLC grew its stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 55.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,030 shares of the company's stock after purchasing an additional 26,163 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.08% of Perella Weinberg Partners worth $1,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Perella Weinberg Partners by 1.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,403 shares of the company's stock valued at $701,000 after purchasing an additional 518 shares in the last quarter. US Bancorp DE lifted its holdings in Perella Weinberg Partners by 5.8% in the first quarter. US Bancorp DE now owns 18,623 shares of the company's stock valued at $343,000 after acquiring an additional 1,021 shares during the last quarter. Versant Capital Management Inc acquired a new position in Perella Weinberg Partners in the first quarter valued at approximately $32,000. Rhumbline Advisers lifted its holdings in Perella Weinberg Partners by 2.7% in the first quarter. Rhumbline Advisers now owns 72,801 shares of the company's stock valued at $1,340,000 after acquiring an additional 1,940 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Perella Weinberg Partners in the first quarter valued at approximately $40,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWP has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price objective 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 upped their price objective on Perella Weinberg Partners from $23.00 to $24.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Finally, Wall Street Zen cut Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $23.67.

Perella Weinberg Partners Stock Down 1.9%

NASDAQ:PWP traded down $0.42 during trading hours on Friday, reaching $22.25. 864,220 shares of the stock were exchanged, compared to its average volume of 1,081,935. The business has a 50-day moving average of $21.31 and a two-hundred day moving average of $19.38. Perella Weinberg Partners has a twelve month low of $14.12 and a twelve month high of $27.03. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 27.13 and a beta of 1.67.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.07). The firm had revenue of $155.27 million for the quarter, compared to analyst estimates of $188.06 million. Perella Weinberg Partners had a negative return on equity of 26.14% and a net margin of 6.57%.

Perella Weinberg Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, August 29th. Perella Weinberg Partners's dividend payout ratio (DPR) is presently 34.15%.

Insider Activity

In other news, President Dietrich Becker sold 177,553 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $22.20, for a total value of $3,941,676.60. Following the sale, the president directly owned 368,469 shares in the company, valued at approximately $8,180,011.80. This trade represents a 32.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 31.82% of the company's stock.

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.