PJT Partners (NYSE:PJT) Director Sells 7,845 Shares of Stock

PJT Partners Inc. (NYSE:PJT) Director Kievdi Don Cornwell sold 7,845 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $173.48, for a total transaction of $1,360,950.60. Following the transaction, the director directly owned 18,865 shares of the company’s stock, valued at approximately $3,272,700.20. This trade represents a 29.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

PJT Partners Stock Performance

Shares of PJT Partners stock traded up $3.65 on Friday, reaching $174.44. The company had a trading volume of 264,227 shares, compared to its average volume of 391,981. The firm’s 50 day moving average price is $164.02 and its two-hundred day moving average price is $155.26. The firm has a market cap of $4.46 billion, a PE ratio of 23.86 and a beta of 0.84. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.57 by $0.40. The firm had revenue of $486.29 million for the quarter, compared to analyst estimates of $425.28 million. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.54 EPS. As a group, sell-side analysts predict that PJT Partners Inc. will post 8 EPS for the current year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. PJT Partners’s dividend payout ratio is 13.68%.

Wall Street Analysts Forecast Growth

PJT has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price target on PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Zacks Research upgraded PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen raised PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, UBS Group reiterated a “neutral” rating and set a $176.00 price target on shares of PJT Partners in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $177.50.

Institutional Trading of PJT Partners

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in PJT Partners by 45.7% during the 1st quarter. Royal Bank of Canada now owns 11,471 shares of the financial services provider’s stock worth $1,581,000 after purchasing an additional 3,596 shares in the last quarter. AQR Capital Management LLC raised its position in PJT Partners by 57.7% in the 1st quarter. AQR Capital Management LLC now owns 7,330 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 2,681 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PJT Partners by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider’s stock valued at $1,915,000 after purchasing an additional 620 shares in the last quarter. Millennium Management LLC boosted its stake in shares of PJT Partners by 1,394.5% in the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock valued at $7,247,000 after buying an additional 49,046 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of PJT Partners by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider’s stock valued at $51,090,000 after buying an additional 19,806 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.