Lighthouse Investment Partners LLC Buys New Position in PJT Partners Inc. (NYSE:PJT)

Lighthouse Investment Partners LLC purchased a new stake in PJT Partners Inc. (NYSE:PJT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,648 shares of the financial services provider’s stock, valued at approximately $4,205,000. Lighthouse Investment Partners LLC owned approximately 0.11% of PJT Partners as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Sanctuary Advisors LLC lifted its position in shares of PJT Partners by 2.9% during the 4th quarter. Sanctuary Advisors LLC now owns 2,274 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 65 shares during the period. Xponance Inc. lifted its position in shares of PJT Partners by 7.4% during the 4th quarter. Xponance Inc. now owns 1,659 shares of the financial services provider’s stock worth $262,000 after buying an additional 115 shares during the last quarter. Atria Investments Inc lifted its position in shares of PJT Partners by 5.0% during the 4th quarter. Atria Investments Inc now owns 2,692 shares of the financial services provider’s stock worth $425,000 after buying an additional 129 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of PJT Partners by 112.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock worth $44,000 after buying an additional 146 shares during the last quarter. Finally, Principal Securities Inc. lifted its position in shares of PJT Partners by 385.4% during the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider’s stock worth $31,000 after buying an additional 158 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel David Adam Travin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total transaction of $708,700.00. Following the completion of the sale, the general counsel now owns 2,288 shares of the company’s stock, valued at $324,301.12. This trade represents a 68.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 11.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on PJT Partners from $152.00 to $161.00 and gave the stock a “market perform” rating in a research report on Monday. Citizens Jmp cut PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, JMP Securities cut PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $154.50.

PJT Partners Trading Up 3.5%

Shares of PJT stock opened at $149.24 on Tuesday. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 30.46 and a beta of 0.76. The stock has a 50-day moving average of $137.97 and a 200-day moving average of $152.52. PJT Partners Inc. has a 1-year low of $99.42 and a 1-year high of $190.28.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The business had revenue of $324.50 million during the quarter, compared to analysts’ expectations of $361.26 million. During the same quarter last year, the firm posted $0.98 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts forecast that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.67%. PJT Partners’s dividend payout ratio is currently 17.64%.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.