GAMMA Investing LLC Increases Position in PJT Partners Inc. (NYSE:PJT)

GAMMA Investing LLC lifted its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 18,294.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,039 shares of the financial services provider's stock after purchasing an additional 81,593 shares during the quarter. GAMMA Investing LLC owned about 0.35% of PJT Partners worth $11,312,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PJT. Commonwealth Equity Services LLC lifted its holdings in PJT Partners by 53.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider's stock worth $910,000 after buying an additional 2,012 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of PJT Partners during the fourth quarter worth $316,000. Norges Bank acquired a new stake in shares of PJT Partners in the fourth quarter valued at $20,269,000. Principal Financial Group Inc. boosted its holdings in PJT Partners by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 139,934 shares of the financial services provider's stock valued at $22,083,000 after purchasing an additional 5,644 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in PJT Partners by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 255,263 shares of the financial services provider's stock worth $40,283,000 after purchasing an additional 3,173 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock in a transaction that occurred 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 transaction, the director now owns 8,847 shares of the company's stock, valued at $1,329,615.63. The trade was a 54.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 directly owns 2,288 shares of the company's stock, valued at $324,301.12. The trade was a 68.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $3,722,082 over the last three months. Insiders own 11.75% of the company's stock.

PJT Partners Stock Performance

Shares of NYSE:PJT traded up $0.97 during trading hours on Monday, reaching $155.19. The stock had a trading volume of 148,400 shares, compared to its average volume of 244,719. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 31.67 and a beta of 0.74. The firm's 50 day moving average is $140.75 and its 200-day moving average is $152.27. PJT Partners Inc. has a 1 year low of $99.77 and a 1 year high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.11. The company 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 24.03% and a net margin of 9.00%. PJT Partners's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. Analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Wednesday, June 4th. PJT Partners's dividend payout ratio (DPR) is 17.64%.

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.