Virtu Financial LLC Takes Position in PJT Partners Inc. $PJT

Key Points

• Virtu Financial LLC has acquired a new position in PJT Partners Inc., purchasing 2,846 shares valued at approximately $392,000 during the first quarter.
• PJT Partners reported an earnings per share (EPS) of $1.54 for the last quarter, surpassing analysts' expectations of $1.36 and marking a 13% increase in revenue compared to the previous year.
• The company also announced a quarterly dividend of $0.25 per share, with an annualized dividend yield of 0.6%, set to be paid on September 17th.

Virtu Financial LLC acquired a new position in PJT Partners Inc. (NYSE:PJT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,846 shares of the financial services provider's stock, valued at approximately $392,000.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc bought a new position in shares of PJT Partners in the 1st quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in shares of PJT Partners in the 1st quarter worth $39,000. Morse Asset Management Inc increased its holdings in shares of PJT Partners by 1,640.0% in the 1st quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock worth $60,000 after purchasing an additional 410 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of PJT Partners by 33.4% in the 1st quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider's stock worth $82,000 after buying an additional 149 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of PJT Partners by 72.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 892 shares of the financial services provider's stock worth $123,000 after buying an additional 375 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PJT shares. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target on shares of PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research note on Monday, July 14th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $174.67.

PJT Partners Price Performance

NYSE PJT traded down $1.19 during midday trading on Tuesday, hitting $177.16. 14,860 shares of the company traded hands, compared to its average volume of 277,501. The company has a market cap of $4.31 billion, a PE ratio of 30.39 and a beta of 0.77. The company's 50-day simple moving average is $172.54 and its 200-day simple moving average is $156.45. PJT Partners Inc. has a 52 week low of $116.07 and a 52 week high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.18. The business had revenue of $731.09 billion for the quarter, compared to analysts' expectations of $343.11 million. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.The business's revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.19 EPS. On average, research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. PJT Partners's dividend payout ratio (DPR) is presently 17.18%.

Insiders Place Their Bets

In other PJT Partners news, Director Grace Reksten Skaugen sold 1,504 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $176.89, for a total value of $266,042.56. Following the completion of the transaction, the director owned 500 shares of the company's stock, valued at approximately $88,445. This trade represents a 75.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $150.29, for a total value of $1,563,466.87. Following the sale, the director directly owned 8,847 shares of the company's stock, valued at approximately $1,329,615.63. This represents a 54.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,792 shares of company stock valued at $3,686,825. Insiders own 11.75% of the company's stock.

About PJT Partners

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.