Bridgefront Capital LLC Invests $280,000 in PJT Partners Inc. (NYSE:PJT)

Bridgefront Capital LLC acquired a new stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,773 shares of the financial services provider's stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in PJT Partners by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider's stock worth $396,987,000 after purchasing an additional 127,060 shares during the period. FMR LLC raised its holdings in shares of PJT Partners by 52.8% in the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider's stock worth $100,651,000 after buying an additional 220,526 shares during the period. Geode Capital Management LLC lifted its stake in shares of PJT Partners by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 635,270 shares of the financial services provider's stock worth $100,273,000 after acquiring an additional 16,233 shares during the last quarter. Raymond James Financial Inc. bought a new position in PJT Partners in the 4th quarter valued at $89,192,000. Finally, Alliancebernstein L.P. lifted its position in shares of PJT Partners by 9.8% during the fourth quarter. Alliancebernstein L.P. now owns 474,710 shares of the financial services provider's stock worth $74,914,000 after purchasing an additional 42,463 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Transactions at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total transaction of $708,700.00. Following the completion of the transaction, the general counsel now directly owns 2,288 shares of the company's stock, valued at approximately $324,301.12. This trade represents a 68.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 11.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PJT. Keefe, Bruyette & Woods boosted their price target on PJT Partners from $152.00 to $161.00 and gave the company a "market perform" rating in a report on Monday. Citizens Jmp cut PJT Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, JMP Securities downgraded PJT Partners from an "outperform" rating to a "market perform" rating in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $154.50.

PJT Partners Stock Up 1.2%

Shares of PJT Partners stock traded up $1.82 during trading on Tuesday, reaching $151.23. The company's stock had a trading volume of 69,188 shares, compared to its average volume of 243,079. PJT Partners Inc. has a 1-year low of $99.42 and a 1-year high of $190.28. The company has a 50-day simple moving average of $137.97 and a two-hundred day simple moving average of $152.52. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 30.86 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.11. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The business had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The company's revenue was down 1.5% on a year-over-year basis. As a group, analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. PJT Partners's dividend payout ratio is currently 17.64%.

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.