Versor Investments LP Invests $456,000 in PJT Partners Inc. $PJT

Key Points

• Versor Investments LP acquired 3,307 shares in PJT Partners Inc. worth approximately $456,000, marking the firm's entry into the company's stock during Q1.
• In recent months, multiple hedge funds, including First Bank & Trust and Xponance Inc., increased their positions in PJT Partners, which is now 89.23% owned by institutional investors.
• PJT Partners announced a quarterly dividend of $0.25 per share, with an annualized dividend yield of 0.6%, set to be paid to shareholders on September 17th.

Versor Investments LP purchased a new position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,307 shares of the financial services provider's stock, valued at approximately $456,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new stake in shares of PJT Partners during the 4th quarter worth about $20,059,000. Nuveen LLC purchased a new stake in shares of PJT Partners during the 1st quarter worth about $12,587,000. GAMMA Investing LLC boosted its stake in shares of PJT Partners by 18,294.4% during the 1st quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock worth $11,312,000 after acquiring an additional 81,593 shares in the last quarter. Congress Asset Management Co. boosted its stake in shares of PJT Partners by 19.7% during the 1st quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider's stock worth $66,951,000 after acquiring an additional 79,894 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in PJT Partners by 52.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider's stock valued at $23,438,000 after buying an additional 58,656 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Trading Down 0.8%

PJT stock traded down $1.3650 during mid-day trading on Monday, reaching $179.3650. The company's stock had a trading volume of 50,242 shares, compared to its average volume of 275,032. The company's 50 day moving average is $174.36 and its two-hundred day moving average is $156.55. The stock has a market cap of $4.36 billion, a PE ratio of 30.84 and a beta of 0.77. PJT Partners Inc. has a fifty-two week low of $116.07 and a fifty-two week high of $190.27.

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

PJT Partners Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at PJT Partners

In other news, General Counsel David Adam Travin sold 2,288 shares of PJT Partners stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $178.06, for a total transaction of $407,401.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock in a transaction on Friday, May 30th. The stock was sold at an average price of $150.29, for a total transaction 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 trade represents a 54.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,792 shares of company stock valued at $3,686,825 in the last 90 days. Company 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.