GAMMA Investing LLC Boosts Stake in PJT Partners Inc. (NYSE:PJT)

GAMMA Investing LLC increased its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 18,294.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,039 shares of the financial services provider's stock after purchasing an additional 81,593 shares during the period. GAMMA Investing LLC owned 0.35% of PJT Partners worth $11,312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Sanctuary Advisors LLC raised its position in shares of PJT Partners by 2.9% during the 4th quarter. Sanctuary Advisors LLC now owns 2,274 shares of the financial services provider's stock worth $375,000 after purchasing an additional 65 shares during the last quarter. Xponance Inc. raised its holdings in PJT Partners by 7.4% in the 4th quarter. Xponance Inc. now owns 1,659 shares of the financial services provider's stock valued at $262,000 after acquiring an additional 115 shares during the last quarter. NDVR Inc. raised its holdings in PJT Partners by 6.0% in the 4th quarter. NDVR Inc. now owns 2,050 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 116 shares during the last quarter. Atria Investments Inc raised its holdings in PJT Partners by 5.0% in the 4th quarter. Atria Investments Inc now owns 2,692 shares of the financial services provider's stock valued at $425,000 after acquiring an additional 129 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in PJT Partners by 112.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 146 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

PJT Partners Trading Up 1.9%

PJT stock traded up $2.86 during mid-day trading on Wednesday, reaching $156.03. The company's stock had a trading volume of 249,247 shares, compared to its average volume of 244,287. The stock has a market cap of $3.81 billion, a PE ratio of 31.84 and a beta of 0.74. PJT Partners Inc. has a fifty-two week low of $99.77 and a fifty-two week high of $190.28. The company's 50 day moving average is $142.05 and its two-hundred day moving average is $152.25.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.11. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The business had revenue of $324.50 million during the quarter, compared to analysts' expectations of $361.26 million. During the same quarter in the prior year, the company posted $0.98 EPS. The business's revenue for the quarter was down 1.5% 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.64%. PJT Partners's dividend payout ratio (DPR) is 17.64%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price objective on shares of PJT Partners from $152.00 to $161.00 and gave the company a "market perform" rating in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $154.50.

Insider Activity

In other news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were 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 now owns 2,288 shares of the company's stock, valued at $324,301.12. This represents a 68.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kievdi Don Cornwell sold 9,597 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $151.08, for a total transaction of $1,449,914.76. Following the completion of the sale, the director now directly owns 19,250 shares of the company's stock, valued at approximately $2,908,290. This trade represents a 33.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $3,722,082 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.