PJT Partners Inc. (NYSE:PJT - Get Free Report) Director Grace Reksten Skaugen sold 1,283 shares of the business's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $167.67, for a total transaction of $215,120.61. Following the sale, the director directly owned 500 shares in the company, valued at approximately $83,835. This represents a 71.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
PJT Partners Trading Up 0.3%
Shares of PJT Partners stock opened at $168.03 on Friday. The company has a 50-day moving average of $159.53 and a two-hundred day moving average of $156.43. PJT Partners Inc. has a 12-month low of $127.73 and a 12-month high of $195.62. The stock has a market cap of $4.34 billion, a PE ratio of 22.99 and a beta of 0.85.
PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $486.29 million for the quarter, compared to analyst estimates of $425.28 million. PJT Partners had a return on equity of 32.88% and a net margin of 10.57%.The company's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.54 EPS. On average, sell-side analysts forecast that PJT Partners Inc. will post 8 EPS for the current fiscal year.
PJT Partners Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be given 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 payout ratio is presently 13.68%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in shares of PJT Partners by 73.3% during the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider's stock worth $35,000 after purchasing an additional 99 shares during the last quarter. Allworth Financial LP raised its position in shares of PJT Partners by 85.8% in the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider's stock valued at $48,000 after buying an additional 133 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of PJT Partners during the first quarter valued at approximately $50,000. State of Wyoming purchased a new position in shares of PJT Partners during the second quarter valued at approximately $63,000. Finally, Kestra Advisory Services LLC acquired a new stake in PJT Partners during the fourth quarter worth approximately $65,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently issued reports on PJT shares. UBS Group reaffirmed a "neutral" rating and set a $176.00 price target on shares of PJT Partners in a research note on Wednesday. Weiss Ratings restated a "hold (c)" rating on shares of PJT Partners in a report on Friday, May 29th. Keefe, Bruyette & Woods lifted their target price on shares of PJT Partners from $185.00 to $195.00 and gave the stock an "outperform" rating in a research report on Wednesday. Wall Street Zen raised shares of PJT Partners from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Zacks Research upgraded shares of PJT Partners from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $179.33.
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About PJT Partners
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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.
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