Key Points
- PJT Partners director Kievdi Don Cornwell sold 7,845 shares at an average price of $173.48, generating approximately $1.36 million. The sale reduced his holdings by 29.37% to 18,865 shares.
- PJT Partners reported stronger-than-expected quarterly results, with earnings of $1.97 per share versus the $1.57 consensus estimate and revenue of $486.29 million, up 19.5% year over year.
- The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 0.6% yield. Analysts have an overall “Hold” rating, with an average price target of $177.50.
PJT Partners Inc. (NYSE:PJT - Get Free Report) Director James Costos sold 1,723 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $175.00, for a total transaction of $301,525.00. Following the completion of the transaction, the director owned 11,289 shares of the company's stock, valued at $1,975,575. This trade represents a 13.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
PJT Partners Stock Performance
Shares of PJT opened at $174.44 on Friday. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 23.86 and a beta of 0.84. The business's fifty day moving average price is $164.47 and its two-hundred day moving average price is $155.39. PJT Partners Inc. has a 52 week low of $127.73 and a 52 week high of $195.62.
PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.57 by $0.40. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The company had revenue of $486.29 million during the quarter, compared to analysts' expectations of $425.28 million. During the same period last year, the firm earned $1.54 EPS. The business's revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts forecast that PJT Partners Inc. will post 8 EPS for the current year.
PJT Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a $0.25 dividend. 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 dividend payout ratio (DPR) is presently 13.68%.
Institutional Trading of PJT Partners
A number of institutional investors and hedge funds have recently modified their holdings of PJT. Oregon Public Employees Retirement Fund boosted its stake in PJT Partners by 1.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,563 shares of the financial services provider's stock worth $930,000 after acquiring an additional 64 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in PJT Partners by 0.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 14,339 shares of the financial services provider's stock worth $2,397,000 after purchasing an additional 66 shares during the period. Maryland State Retirement & Pension System raised its holdings in PJT Partners by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,561 shares of the financial services provider's stock worth $595,000 after purchasing an additional 67 shares during the period. New Age Alpha Advisors LLC boosted its position in shares of PJT Partners by 6.9% during the fourth quarter. New Age Alpha Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $201,000 after purchasing an additional 78 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of PJT Partners by 1.4% in the 4th quarter. HighTower Advisors LLC now owns 5,661 shares of the financial services provider's stock valued at $946,000 after buying an additional 78 shares during the period. 89.23% of the stock is owned by institutional investors.
Analyst Ratings Changes
PJT has been the topic of a number of research reports. Zacks Research upgraded shares of PJT Partners from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Wall Street Zen raised shares of PJT Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. UBS Group reaffirmed a "neutral" rating and issued a $176.00 price objective on shares of PJT Partners in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PJT Partners in a report on Friday, May 29th. Finally, BMO Capital Markets upped their target price on shares of PJT Partners from $183.00 to $194.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $177.50.
Check Out Our Latest Stock Report on PJT
PJT Partners Company Profile
(
Get Free Report)
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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