PJT Partners (NYSE:PJT) Cut to “Hold” at Citizens Jmp

PJT Partners (NYSE:PJT) was downgraded by research analysts at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

PJT has been the topic of a number of other research reports. JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and boosted their price target for the company from $130.00 to $175.00 in a research note on Friday, December 6th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of PJT Partners from $159.00 to $152.00 and set a “market perform” rating on the stock in a research note on Monday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $152.25.

PJT Partners Stock Performance

PJT opened at $156.65 on Monday. The stock has a fifty day moving average of $159.58 and a 200-day moving average of $138.73. The company has a market capitalization of $3.71 billion, a P/E ratio of 39.76 and a beta of 0.66. PJT Partners has a fifty-two week low of $88.51 and a fifty-two week high of $168.92.

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

Insider Activity at PJT Partners

In other PJT Partners news, Director James Costos sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the transaction, the director now owns 9,360 shares of the company’s stock, valued at $1,510,797.60. This represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the sale, the director now directly owns 9,100 shares in the company, valued at $1,453,725. The trade was a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock valued at $762,980 over the last ninety days. 11.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP boosted its position in PJT Partners by 186.3% during the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider’s stock worth $28,000 after buying an additional 136 shares during the period. GAMMA Investing LLC increased its stake in shares of PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares during the period. KBC Group NV raised its position in shares of PJT Partners by 113.0% during the third quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 426 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of PJT Partners in the third quarter worth approximately $213,000. Finally, D.A. Davidson & CO. bought a new stake in PJT Partners in the third quarter valued at approximately $234,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.