PJT Partners (NYSE:PJT) Sets New 1-Year High – What’s Next?

PJT Partners Inc. (NYSE:PJT) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $137.50 and last traded at $137.33, with a volume of 143674 shares trading hands. The stock had previously closed at $132.40.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $128.00 target price (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. JMP Securities increased their price target on shares of PJT Partners from $120.00 to $142.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their target price on shares of PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, UBS Group raised their price objective on PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $116.80.

PJT Partners Stock Up 3.7 %

The stock has a market capitalization of $3.27 billion, a PE ratio of 36.47 and a beta of 0.61. The firm’s fifty day moving average price is $125.41 and its two-hundred day moving average price is $110.67.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.49. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The firm had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $281.93 million. During the same period in the prior year, the firm earned $0.99 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts predict that PJT Partners Inc. will post 4.35 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Wednesday, September 4th. PJT Partners’s payout ratio is currently 27.55%.

Insider Buying and Selling at PJT Partners

In related news, Director Emily K. Rafferty sold 1,696 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total transaction of $221,819.84. Following the completion of the transaction, the director now directly owns 7,404 shares in the company, valued at approximately $968,369.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Emily K. Rafferty sold 1,696 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $130.79, for a total value of $221,819.84. Following the completion of the transaction, the director now owns 7,404 shares of the company’s stock, valued at $968,369.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Grace Reksten Skaugen sold 2,015 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at $62,430. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,297 shares of company stock valued at $3,092,668. Insiders own 10.67% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PJT. SG Americas Securities LLC grew its holdings in shares of PJT Partners by 72.9% in the third quarter. SG Americas Securities LLC now owns 2,528 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 1,066 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in PJT Partners in the second quarter worth about $286,000. Truist Financial Corp raised its position in PJT Partners by 15.6% during the second quarter. Truist Financial Corp now owns 8,648 shares of the financial services provider’s stock valued at $933,000 after purchasing an additional 1,166 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of PJT Partners in the 2nd quarter valued at approximately $13,803,000. Finally, Creative Planning purchased a new position in shares of PJT Partners in the 2nd quarter worth approximately $310,000. 89.23% of the stock is owned by institutional investors.

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.