Kornitzer Capital Management Inc. KS Buys 7,830 Shares of PJT Partners Inc. $PJT

Key Points

• Kornitzer Capital Management increased its PJT stake by 28.8%, buying 7,830 shares to own 35,055 shares (about 0.14% of the company) valued at roughly $5.86 million per its latest SEC filing.
• CFO Helen T. Meates sold 8,000 shares on May 1 at an average price of $153.19 for $1.225 million, trimming her holding by 12.04%; company insiders collectively own 11.75% of PJT.
• PJT beat quarterly expectations with $1.54 EPS (vs. $1.51 est.) and $418.2M revenue (up 28.9% YoY); the stock has a $3.74B market cap, a consensus "Hold" rating and an average analyst target of $173.33.

Kornitzer Capital Management Inc. KS grew its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 28.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 35,055 shares of the financial services provider's stock after purchasing an additional 7,830 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.14% of PJT Partners worth $5,861,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Horizon Investments LLC raised its holdings in shares of PJT Partners by 36.7% in the fourth quarter. Horizon Investments LLC now owns 5,807 shares of the financial services provider's stock valued at $971,000 after purchasing an additional 1,560 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of PJT Partners by 5.2% in the fourth quarter. Citizens Financial Group Inc. RI now owns 1,727 shares of the financial services provider's stock valued at $289,000 after purchasing an additional 85 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of PJT Partners by 9.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 13,325 shares of the financial services provider's stock valued at $2,228,000 after purchasing an additional 1,191 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of PJT Partners in the fourth quarter valued at about $336,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of PJT Partners in the fourth quarter valued at about $272,000. 89.23% of the stock is owned by institutional investors.

Insider Transactions at PJT Partners

In related news, CFO Helen T. Meates sold 8,000 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 11.75% of the company's stock.

PJT Partners Stock Performance

NYSE PJT opened at $154.72 on Friday. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62. The company has a 50-day simple moving average of $145.33 and a 200 day simple moving average of $162.04. The company has a market capitalization of $3.74 billion, a PE ratio of 22.55 and a beta of 0.86.

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

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, June 3rd. PJT Partners's dividend payout ratio (DPR) is 14.58%.

Wall Street Analysts Forecast Growth

PJT has been the subject of several analyst reports. UBS Group increased their target price on shares of PJT Partners from $152.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday. The Goldman Sachs Group upgraded shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 target price for the company in a report on Wednesday, April 1st. Zacks Research downgraded shares of PJT Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, January 5th. Weiss Ratings reiterated a "hold (c+)" rating on shares of PJT Partners in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of PJT Partners from $166.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $173.33.

About PJT Partners

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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