PJT Partners (NYSE:PJT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “PJT Partners Inc. is a financial advisory firm. The Company offers strategic advisory, restructuring and reorganization, fund placement and funds advisory services to corporations, financial sponsors, institutional investors and governments. PJT Partners Inc. is based in NEW YORK, United States. “
PJT has been the subject of a number of other reports. Sandler O’Neill set a $55.00 price objective on PJT Partners and gave the stock a “buy” rating in a research report on Thursday, January 11th. Buckingham Research assumed coverage on PJT Partners in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $51.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $48.60.
PJT Partners (NYSE:PJT) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The firm had revenue of $190.55 million during the quarter. PJT Partners had a positive return on equity of 319.40% and a negative net margin of 6.52%. research analysts anticipate that PJT Partners will post 2.15 EPS for the current year.
In other news, General Counsel James W. Cuminale sold 2,816 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $48.05, for a total transaction of $135,308.80. Following the completion of the transaction, the general counsel now directly owns 49,502 shares of the company’s stock, valued at approximately $2,378,571.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.30% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of PJT. SG Americas Securities LLC purchased a new position in shares of PJT Partners during the 3rd quarter worth approximately $168,000. Trexquant Investment LP purchased a new position in shares of PJT Partners during the 3rd quarter worth approximately $245,000. Teacher Retirement System of Texas purchased a new position in shares of PJT Partners during the 4th quarter worth approximately $275,000. SeaCrest Wealth Management LLC purchased a new position in shares of PJT Partners during the 4th quarter worth approximately $317,000. Finally, MetLife Investment Advisors LLC purchased a new position in shares of PJT Partners during the 4th quarter worth approximately $355,000. 59.88% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “PJT Partners (PJT) Rating Lowered to Hold at Zacks Investment Research” was originally reported by Markets Daily and is owned by of Markets Daily. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.themarketsdaily.com/2018/03/13/pjt-partners-pjt-rating-lowered-to-hold-at-zacks-investment-research.html.
About PJT Partners
PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PJT Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PJT Partners and related companies with MarketBeat.com's FREE daily email newsletter.