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

No Street GP LP trimmed its stake in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 49.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 300,000 shares of the company's stock after selling 297,615 shares during the period. Perella Weinberg Partners comprises about 0.5% of No Street GP LP's holdings, making the stock its 25th biggest position. No Street GP LP owned about 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. FMR LLC boosted its holdings in Perella Weinberg Partners by 3.8% in the fourth quarter. FMR LLC now owns 8,181,941 shares of the company's stock worth $195,057,000 after purchasing an additional 301,587 shares in the last quarter. Vanguard Group Inc. lifted its position in Perella Weinberg Partners by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company's stock valued at $75,426,000 after acquiring an additional 260,319 shares in the last quarter. Azora Capital LP raised its holdings in Perella Weinberg Partners by 3.4% in the 4th quarter. Azora Capital LP now owns 2,492,789 shares of the company's stock valued at $59,428,000 after acquiring an additional 81,747 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Perella Weinberg Partners by 13.7% during the 4th quarter. Wellington Management Group LLP now owns 1,316,562 shares of the company's stock worth $31,387,000 after acquiring an additional 158,957 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Perella Weinberg Partners by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,281,969 shares of the company's stock valued at $30,569,000 after acquiring an additional 24,349 shares during the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on PWP. The Goldman Sachs Group boosted their target price on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a research report on Thursday. Keefe, Bruyette & Woods lowered their price objective on shares of Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, May 12th. Finally, JMP Securities cut their target price 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 Price Performance

NASDAQ PWP traded down $0.20 on Monday, hitting $18.94. The company had a trading volume of 180,575 shares, compared to its average volume of 632,037. The company has a market capitalization of $1.67 billion, a PE ratio of -11.97 and a beta of 1.69. The company's fifty day moving average price is $17.71 and its 200-day moving average price is $21.88. 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 quarterly 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. 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 net margin of 7.37% and a negative return on equity of 72.27%. During the same quarter in the prior year, the company earned ($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. Shareholders of record on Wednesday, May 14th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, May 14th. Perella Weinberg Partners's dividend payout ratio (DPR) is currently -65.12%.

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.