No Street GP LP Cuts Stock Holdings in Perella Weinberg Partners (NASDAQ:PWP)

No Street GP LP cut its stake in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 49.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 300,000 shares of the company's stock after selling 297,615 shares during the period. Perella Weinberg Partners accounts for approximately 0.5% of No Street GP LP's holdings, making the stock its 25th biggest holding. No Street GP LP owned approximately 0.34% of Perella Weinberg Partners worth $7,152,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in Perella Weinberg Partners by 43.9% in the 4th 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Perella Weinberg Partners by 1.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,403 shares of the company's stock worth $701,000 after purchasing an additional 518 shares in the last quarter. US Bancorp DE boosted its position in shares of Perella Weinberg Partners by 4.4% in the fourth quarter. US Bancorp DE now owns 17,602 shares of the company's stock worth $420,000 after buying an additional 746 shares during the period. Ancora Advisors LLC grew its stake in shares of Perella Weinberg Partners by 0.4% in the fourth quarter. Ancora Advisors LLC now owns 203,446 shares of the company's stock valued at $4,850,000 after buying an additional 830 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Perella Weinberg Partners by 1.2% during the 4th quarter. Rhumbline Advisers now owns 70,861 shares of the company's stock valued at $1,689,000 after buying an additional 854 shares during the period. 41.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group decreased their price target on Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating for the company in a report on Wednesday, April 2nd. JMP Securities lowered their price target on shares of 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. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday.

Perella Weinberg Partners Trading Up 2.8%

Perella Weinberg Partners stock opened at $19.41 on Wednesday. Perella Weinberg Partners has a 52 week low of $13.82 and a 52 week high of $27.03. The stock has a market cap of $1.68 billion, a P/E ratio of -12.28 and a beta of 1.69. The stock has a 50 day moving average of $17.72 and a 200-day moving average of $21.90.

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

Perella Weinberg Partners Announces Dividend

The company 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, May 14th. Perella Weinberg Partners's dividend payout ratio is currently -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.

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