GSA Capital Partners LLP Sells 3,907 Shares of PJT Partners Inc. (NYSE:PJT)

Key Points

• GSA Capital Partners LLP has reduced its stake in PJT Partners Inc. by 47.0%, holding 4,408 shares worth approximately $608,000 after selling 3,907 shares in the first quarter.
• The latest analyst rating for PJT includes an increase in the price target from $161.00 to $199.00 by Keefe, Bruyette & Woods, while maintaining a "market perform" rating.
• PJT Partners recently announced a quarterly dividend of $0.25 per share, representing an annualized yield of 0.6% with a payout ratio of 17.18%.

GSA Capital Partners LLP cut its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 47.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,408 shares of the financial services provider's stock after selling 3,907 shares during the quarter. GSA Capital Partners LLP's holdings in PJT Partners were worth $608,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in shares of PJT Partners in the first quarter valued at approximately $30,000. CIBC Private Wealth Group LLC lifted its stake in PJT Partners by 112.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock worth $44,000 after purchasing an additional 146 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in PJT Partners in the 1st quarter valued at about $39,000. Morse Asset Management Inc lifted its stake 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 worth $60,000 after purchasing an additional 410 shares during the period. Finally, GAMMA Investing LLC raised its position in PJT Partners by 33.4% in the first 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 period. Institutional investors own 89.23% of the company's stock.

Insider Buying and Selling at PJT Partners

In related news, General Counsel David Adam Travin sold 2,288 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $178.06, for a total value of $407,401.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kievdi Don Cornwell sold 10,403 shares of the company's 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 completion of the transaction, the director directly owned 8,847 shares in the company, valued at approximately $1,329,615.63. The trade was a 54.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,288 shares of company stock valued at $3,420,783. 11.75% of the stock is owned by corporate insiders.

PJT Partners Trading Down 1.8%

Shares of PJT Partners stock traded down $3.20 during trading on Thursday, reaching $177.76. The company's stock had a trading volume of 89,442 shares, compared to its average volume of 281,936. PJT Partners Inc. has a fifty-two week low of $116.07 and a fifty-two week high of $190.27. The firm has a market cap of $4.34 billion, a PE ratio of 30.56 and a beta of 0.77. The company has a 50-day moving average price of $167.98 and a two-hundred day moving average price of $155.61.

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

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.25 per share. 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PJT shares. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price objective 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 research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat, PJT Partners has an average rating of "Hold" and a consensus price target of $174.67.

PJT Partners 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.