Hsbc Holdings PLC Sells 17,476 Shares of PJT Partners Inc. $PJT

Key Points

• Hsbc Holdings PLC reduced its PJT Partners stake by 54.7%, selling 17,476 shares and retaining 14,454 shares valued at approximately $2.03 million. Institutional investors and hedge funds collectively own 89.23% of the company.
• Analyst sentiment remains mixed, with PJT Partners carrying a consensus “Hold” rating and an average price target of $175.33. Recent targets range from $162 to $185, while Goldman Sachs upgraded the stock to “Buy.”
• PJT Partners reported quarterly EPS of $1.54 and revenue of $418.2 million, exceeding estimates and increasing revenue 28.9% year over year. The stock recently traded at $168.65, while company insiders have also sold shares.

Hsbc Holdings PLC cut its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 54.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,454 shares of the financial services provider's stock after selling 17,476 shares during the period. Hsbc Holdings PLC owned 0.06% of PJT Partners worth $2,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PJT. Allworth Financial LP increased its holdings in shares of PJT Partners by 85.8% in the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 133 shares in the last quarter. State of Wyoming bought a new position in PJT Partners in the 2nd quarter worth approximately $63,000. Kestra Advisory Services LLC acquired a new position in PJT Partners during the 4th quarter worth $65,000. Quadrant Capital Group LLC acquired a new position in PJT Partners during the 3rd quarter worth $90,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in PJT Partners by 2,338.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 512 shares of the financial services provider's stock valued at $86,000 after buying an additional 491 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on PJT. Weiss Ratings reissued a "hold (c)" rating on shares of PJT Partners in a research note on Friday, May 29th. Keefe, Bruyette & Woods upped their price target on PJT Partners from $175.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, July 10th. UBS Group raised their price target on PJT Partners from $160.00 to $162.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Zacks Research upgraded PJT Partners from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Finally, The Goldman Sachs Group raised PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $175.33.

PJT Partners Stock Performance

Shares of PJT stock opened at $168.65 on Monday. The firm's 50 day moving average price is $158.23 and its two-hundred day moving average price is $156.68. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62. The stock has a market cap of $4.36 billion, a PE ratio of 24.58 and a beta of 0.85.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.51 by $0.03. The company had revenue of $418.20 million during the quarter, compared to analysts' expectations of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The business's revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, sell-side analysts predict that PJT Partners Inc. will post 7.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PJT Partners news, General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the transaction, the general counsel owned 2,052 shares of the company's stock, valued at approximately $312,786.36. This represents a 59.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Helen T. Meates sold 8,000 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $153.19, for a total value of $1,225,520.00. Following the transaction, the chief financial officer owned 58,466 shares in the company, valued at approximately $8,956,406.54. This trade represents a 12.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is owned by insiders.

PJT Partners Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm's dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.

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