New York State Common Retirement Fund Acquires 680,563 Shares of Perella Weinberg Partners (NASDAQ:PWP)

New York State Common Retirement Fund increased its position in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 402.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 849,590 shares of the company's stock after purchasing an additional 680,563 shares during the period. New York State Common Retirement Fund owned about 0.98% of Perella Weinberg Partners worth $15,632,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in Perella Weinberg Partners in the fourth quarter valued at about $18,493,000. Franklin Resources Inc. bought a new stake in shares of Perella Weinberg Partners in the fourth quarter worth about $13,586,000. Walleye Capital LLC bought a new stake in shares of Perella Weinberg Partners in the fourth quarter worth about $10,307,000. Cannell & Spears LLC bought a new stake in shares of Perella Weinberg Partners in the fourth quarter worth about $8,881,000. Finally, ExodusPoint Capital Management LP increased its holdings in shares of Perella Weinberg Partners by 334.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 477,870 shares of the company's stock worth $11,392,000 after acquiring an additional 367,869 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company's stock.

Perella Weinberg Partners Trading Up 1.4%

Shares of PWP stock traded up $0.28 on Friday, hitting $19.75. 1,251,045 shares of the stock were exchanged, compared to its average volume of 712,723. The firm has a market capitalization of $1.75 billion, a P/E ratio of -45.93 and a beta of 1.66. The business has a 50-day moving average of $18.81 and a 200 day moving average of $20.15. Perella Weinberg Partners has a fifty-two week low of $14.12 and a fifty-two week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.21 by $0.07. Perella Weinberg Partners had a negative return on equity of 36.47% and a negative net margin of 1.17%. The firm had revenue of $211.83 million during the quarter, compared to analysts' expectations of $200.29 million. During the same period in the prior year, the firm posted ($0.10) earnings per share.

Perella Weinberg Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Wednesday, May 14th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.28 annualized dividend and a yield of 1.42%. Perella Weinberg Partners's dividend payout ratio (DPR) is presently -65.12%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PWP. The Goldman Sachs Group increased their price target on Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a report on Thursday, May 15th. JMP Securities lowered 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. Wall Street Zen downgraded Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Keefe, Bruyette & Woods downgraded Perella Weinberg Partners from a "moderate buy" rating to a "hold" rating and increased their price target for the stock from $22.00 to $23.00 in a report on Monday.

About Perella Weinberg Partners

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.