James Costos Sells 1,723 Shares of PJT Partners (NYSE:PJT) Stock

PJT Partners Inc. (NYSE:PJT) Director James Costos sold 1,723 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $175.00, for a total value of $301,525.00. Following the completion of the sale, the director owned 11,289 shares of the company’s stock, valued at approximately $1,975,575. This represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

PJT Partners Price Performance

NYSE:PJT opened at $174.44 on Friday. The business’s 50-day moving average is $164.47 and its two-hundred day moving average is $155.39. The firm has a market capitalization of $4.46 billion, a PE ratio of 23.86 and a beta of 0.84. PJT Partners Inc. has a 12 month low of $127.73 and a 12 month high of $195.62.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.40. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The company had revenue of $486.29 million during the quarter, compared to the consensus estimate of $425.28 million. During the same quarter in the prior year, the business earned $1.54 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. Equities analysts anticipate that PJT Partners Inc. will post 8 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a $0.25 dividend. 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 currently 13.68%.

Institutional Trading of PJT Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Compass Financial Management LLC bought a new position in PJT Partners during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc increased its holdings in shares of PJT Partners by 73.3% in the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 99 shares during the last quarter. Allworth Financial LP raised its position in shares of PJT Partners by 85.8% during the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in PJT Partners during the first quarter worth $50,000. Finally, State of Wyoming acquired a new position in PJT Partners in the second quarter worth $63,000. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PJT. Zacks Research raised shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Wall Street Zen raised shares of PJT Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. BMO Capital Markets raised their price target on shares of PJT Partners from $183.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $177.50.

PJT Partners Company Profile

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.