Key Points
- Director Emily Rafferty sold 1,100 PJT Partners shares at an average price of $167.35, totaling $184,085. The transaction reduced her ownership by 10.31%, leaving her with 9,568 shares.
- PJT Partners reported a strong quarter, with earnings per share of $1.97 beating estimates of $1.57 and revenue rising 19.5% year over year to $486.29 million.
- The company declared a quarterly dividend of $0.25 per share, equal to an annualized $1.00 payout and a 0.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $177.50.
PJT Partners Inc. (NYSE:PJT - Get Free Report) Director Emily Rafferty sold 1,100 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $167.35, for a total transaction of $184,085.00. Following the sale, the director owned 9,568 shares in the company, valued at approximately $1,601,204.80. The trade was a 10.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
PJT Partners Stock Down 1.3%
NYSE:PJT opened at $169.13 on Tuesday. PJT Partners Inc. has a 12-month low of $127.73 and a 12-month high of $195.62. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 23.14 and a beta of 0.83. The stock's 50 day moving average price is $161.53 and its two-hundred day moving average price is $155.70.
PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.40. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The business had revenue of $486.29 million for the quarter, compared to analyst estimates of $425.28 million. During the same period in the previous year, the firm earned $1.54 EPS. The firm's revenue was up 19.5% compared to the same quarter last year. Equities research analysts expect that PJT Partners Inc. will post 8 EPS for the current year.
PJT Partners Announces Dividend
The business also recently disclosed 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 of this dividend is Wednesday, September 2nd. PJT Partners's payout ratio is 13.68%.
Institutional Investors Weigh In On PJT Partners
Institutional investors and hedge funds have recently made changes to their positions in the business. Jackson Creek Investment Advisors LLC bought a new position in PJT Partners in the 4th quarter valued at $1,373,000. Bessemer Group Inc. raised its stake in shares of PJT Partners by 1,446.5% during the 4th quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider's stock worth $19,229,000 after purchasing an additional 107,564 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of PJT Partners by 8.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 142,496 shares of the financial services provider's stock worth $23,825,000 after purchasing an additional 10,570 shares during the period. Kornitzer Capital Management Inc. KS boosted its holdings in shares of PJT Partners by 28.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider's stock worth $5,861,000 after buying an additional 7,830 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in PJT Partners by 28.5% during the fourth quarter. State of Alaska Department of Revenue now owns 17,010 shares of the financial services provider's stock valued at $2,843,000 after buying an additional 3,775 shares during the period. Institutional investors own 89.23% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on PJT. BMO Capital Markets lifted their price objective on shares of PJT Partners from $183.00 to $194.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Wall Street Zen upgraded PJT Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods raised their target price on PJT Partners from $185.00 to $195.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Zacks Research upgraded PJT Partners from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Finally, UBS Group reissued a "neutral" rating and set a $176.00 price target on shares of PJT Partners in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $177.50.
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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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