Los Angeles Capital Management LLC Makes New $453,000 Investment in PJT Partners Inc. (NYSE:PJT)

Los Angeles Capital Management LLC bought a new stake in PJT Partners Inc. (NYSE:PJT) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,396 shares of the financial services provider’s stock, valued at approximately $453,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PJT. Crossmark Global Holdings Inc. acquired a new stake in PJT Partners in the third quarter valued at about $262,000. Atria Investments Inc lifted its holdings in shares of PJT Partners by 5.9% in the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 142 shares during the last quarter. Portside Wealth Group LLC boosted its stake in shares of PJT Partners by 5.2% in the 3rd quarter. Portside Wealth Group LLC now owns 3,684 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 181 shares in the last quarter. Olympiad Research LP bought a new stake in shares of PJT Partners during the 3rd quarter valued at approximately $310,000. Finally, Amalgamated Bank increased its position in PJT Partners by 3.1% during the 3rd quarter. Amalgamated Bank now owns 7,015 shares of the financial services provider’s stock worth $935,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

PJT Partners Trading Down 1.2 %

Shares of PJT opened at $157.32 on Friday. The stock’s 50-day moving average price is $140.25 and its two-hundred day moving average price is $122.08. PJT Partners Inc. has a 12 month low of $82.64 and a 12 month high of $163.85. The company has a market capitalization of $3.73 billion, a PE ratio of 39.93 and a beta of 0.61.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Equities research analysts predict that PJT Partners Inc. will post 4.4 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s dividend payout ratio is currently 25.38%.

Insider Transactions at PJT Partners

In other PJT Partners news, Director James Costos sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the transaction, the director now directly owns 9,360 shares of the company’s stock, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now directly owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,367 shares of company stock worth $3,633,828 over the last three months. 11.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PJT. JMP Securities boosted their target price on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. UBS Group boosted their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group increased their target price on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $128.00 price target (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $123.80.

PJT Partners 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.