Champlain Investment Partners LLC Sells 31,777 Shares of PJT Partners Inc. $PJT

Key Points

• Champlain Investment Partners LLC reduced its stake in PJT Partners Inc. by 5.6%, selling 31,777 shares, and now owns approximately 2.29% of the company valued at $73.5 million.
• PJT Partners reported earnings of $1.54 per share, exceeding estimates and demonstrating a 13.0% revenue increase year-over-year.
• The company recently declared a quarterly dividend of $0.25 per share, with an annual dividend yield of 0.5%.

Champlain Investment Partners LLC cut its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 533,379 shares of the financial services provider's stock after selling 31,777 shares during the quarter. Champlain Investment Partners LLC owned 2.29% of PJT Partners worth $73,542,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. New York State Teachers Retirement System raised its stake in shares of PJT Partners by 11.4% during the first quarter. New York State Teachers Retirement System now owns 12,253 shares of the financial services provider's stock worth $1,689,000 after acquiring an additional 1,254 shares in the last quarter. Millennium Management LLC bought a new position in shares of PJT Partners in the fourth quarter worth approximately $555,000. Principal Financial Group Inc. grew its holdings in shares of PJT Partners by 2.6% in the first quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider's stock worth $19,797,000 after purchasing an additional 3,645 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of PJT Partners by 18,294.4% in the first quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock worth $11,312,000 after purchasing an additional 81,593 shares during the last quarter. Finally, Richard Bernstein Advisors LLC bought a new position in shares of PJT Partners in the first quarter worth approximately $3,373,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PJT Partners

In related 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 value of $407,401.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Grace Reksten Skaugen sold 1,504 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $176.89, for a total transaction of $266,042.56. Following the sale, the director owned 500 shares in the company, valued at approximately $88,445. This trade represents a 75.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.75% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PJT shares. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a report on Monday, July 14th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, PJT Partners currently has an average rating of "Reduce" and an average price target of $174.67.

PJT Partners Price Performance

NYSE:PJT traded down $2.60 during trading hours on Monday, hitting $178.82. The company had a trading volume of 296,246 shares, compared to its average volume of 201,259. The company has a market capitalization of $4.35 billion, a PE ratio of 30.73 and a beta of 0.75. The stock has a 50-day moving average price of $177.00 and a 200 day moving average price of $156.78. 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 released its quarterly 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. The business had revenue of $731.09 billion for the quarter, compared to analysts' expectations of $343.11 million. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 earnings per share. Analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 0.6%. PJT Partners's payout ratio is 17.18%.

PJT Partners Company 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.