Corton Capital Inc. Makes New Investment in PJT Partners Inc. (NYSE:PJT)

Key Points

• Corton Capital Inc. has made a new investment in PJT Partners Inc., purchasing 1,471 shares valued at approximately $203,000.
• PJT Partners reported earnings of $1.05 EPS, exceeding analysts' estimates, but its revenue of $324.50 million fell short of expectations.
• The company declared a quarterly dividend of $0.25, with an annualized dividend yield of 0.54%.

Corton Capital Inc. bought a new position in PJT Partners Inc. (NYSE:PJT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,471 shares of the financial services provider's stock, valued at approximately $203,000.

A number of other hedge funds have also bought and sold shares of the business. Versant Capital Management Inc purchased a new stake in shares of PJT Partners during the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of PJT Partners during the 1st quarter valued at about $39,000. CIBC Private Wealth Group LLC increased its position in shares of PJT Partners by 112.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 146 shares during the last quarter. Morse Asset Management Inc increased its position in shares of PJT Partners by 1,640.0% during the 1st quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 410 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of PJT Partners by 33.4% during the 1st quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

PJT Partners Price Performance

Shares of PJT opened at $184.14 on Friday. PJT Partners Inc. has a 1 year low of $116.06 and a 1 year high of $190.27. The company has a 50 day simple moving average of $163.06 and a two-hundred day simple moving average of $154.35. The firm has a market cap of $4.50 billion, a P/E ratio of 32.48 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.11. The firm had revenue of $324.50 million during the quarter, compared to the consensus estimate of $361.26 million. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. The company's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. On average, sell-side 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 was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. PJT Partners's dividend payout ratio is presently 17.64%.

Insiders Place Their Bets

In related news, Director Kievdi Don Cornwell sold 10,403 shares of the firm's stock in a transaction on 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 completion of the sale, the director directly owned 8,847 shares in the company, valued at $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David Adam Travin sold 5,000 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total value of $708,700.00. Following the completion of the sale, the general counsel owned 2,288 shares of the company's stock, valued at approximately $324,301.12. This represents a 68.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,000 shares of company stock valued at $3,722,082. 11.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PJT shares. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods upped 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 report on Monday, July 14th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $164.00.

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.

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