PJT Partners Inc. (NYSE:PJT) Receives Average Rating of “Hold” from Brokerages

PJT Partners Inc. (NYSE:PJT) has been given an average rating of “Hold” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $185.00.

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their target price on PJT Partners from $196.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of PJT Partners in a research report on Wednesday, October 8th. Evercore ISI set a $180.00 target price on PJT Partners in a research report on Monday, October 13th. BMO Capital Markets began coverage on PJT Partners in a research report on Friday, October 3rd. They set an “outperform” rating and a $205.00 target price on the stock. Finally, Wolfe Research reaffirmed an “underperform” rating on shares of PJT Partners in a report on Thursday, July 10th.

PJT Partners Stock Down 4.8%

PJT stock opened at $161.09 on Tuesday. PJT Partners has a twelve month low of $119.76 and a twelve month high of $190.27. The company has a market cap of $3.92 billion, a PE ratio of 27.68 and a beta of 0.76. The business’s 50-day simple moving average is $178.69 and its 200 day simple moving average is $167.07.

Insiders Place Their Bets

In other PJT Partners news, Director Grace Reksten Skaugen sold 1,504 shares of PJT Partners stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total transaction of $266,042.56. Following the sale, the director directly owned 500 shares of the company’s stock, valued at approximately $88,445. The trade was a 75.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.75% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

A number of institutional investors have recently added to or reduced their stakes in PJT. Invesco Ltd. boosted its holdings in PJT Partners by 106.7% during the second quarter. Invesco Ltd. now owns 520,056 shares of the financial services provider’s stock valued at $85,814,000 after purchasing an additional 268,435 shares in the last quarter. Nuveen LLC acquired a new stake in PJT Partners during the first quarter valued at approximately $12,587,000. Schroder Investment Management Group boosted its holdings in PJT Partners by 45.8% during the second quarter. Schroder Investment Management Group now owns 210,126 shares of the financial services provider’s stock valued at $34,673,000 after purchasing an additional 66,031 shares in the last quarter. Flputnam Investment Management Co. boosted its holdings in shares of PJT Partners by 874.1% in the 3rd quarter. Flputnam Investment Management Co. now owns 68,155 shares of the financial services provider’s stock worth $12,113,000 after acquiring an additional 61,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of PJT Partners by 52.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider’s stock worth $23,438,000 after acquiring an additional 58,656 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

About PJT Partners

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.