Martingale Asset Management L P Sells 1,710 Shares of PJT Partners Inc. $PJT

Key Points

• Martingale Asset Management L P reduced its holdings in PJT Partners by 8.7% to 17,842 shares, valued at approximately $2.46 million, following the sale of 1,710 shares in the first quarter.
• PJT Partners reported a net revenue of $731.09 million for the quarter, which was 13% higher year-over-year, and topped earnings expectations with $1.54 EPS against a consensus estimate of $1.36.
• Recently, the company declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend of $1.00 with a yield of 0.6%.

Martingale Asset Management L P lowered its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,842 shares of the financial services provider's stock after selling 1,710 shares during the quarter. Martingale Asset Management L P owned about 0.08% of PJT Partners worth $2,460,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital Fund Management S.A. bought a new stake in shares of PJT Partners during the first quarter worth about $3,869,000. Credit Agricole S A increased its holdings in PJT Partners by 142.7% during the 1st quarter. Credit Agricole S A now owns 17,515 shares of the financial services provider's stock worth $2,415,000 after purchasing an additional 10,298 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PJT Partners in the first quarter worth approximately $45,000. Hsbc Holdings PLC lifted its holdings in shares of PJT Partners by 189.5% in the first quarter. Hsbc Holdings PLC now owns 43,440 shares of the financial services provider's stock valued at $5,905,000 after purchasing an additional 28,436 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of PJT Partners by 21.7% in the first quarter. Quantbot Technologies LP now owns 22,155 shares of the financial services provider's stock valued at $3,055,000 after purchasing an additional 3,955 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

PJT Partners Trading Up 0.4%

Shares of PJT stock traded up $0.67 during trading hours on Thursday, hitting $182.67. 52,856 shares of the company were exchanged, compared to its average volume of 272,810. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 31.39 and a beta of 0.77. The firm has a fifty day simple moving average of $175.98 and a 200 day simple moving average of $156.93. PJT Partners Inc. has a 52-week low of $116.07 and a 52-week high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, beating 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 business had revenue of $731.09 billion for the quarter, compared to the consensus estimate of $343.11 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. PJT Partners's revenue for the quarter was up 13.0% on a year-over-year basis. Sell-side analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. PJT Partners's dividend payout ratio is presently 17.18%.

Insider Buying and Selling

In related news, Director Kievdi Don Cornwell sold 10,403 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $150.29, for a total value of $1,563,466.87. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Grace Reksten Skaugen sold 1,504 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total transaction of $266,042.56. Following the completion of the transaction, the director directly owned 500 shares of the company's stock, valued at approximately $88,445. This trade represents a 75.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,195 shares of company stock valued at $2,236,911. 11.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PJT shares. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. Keefe, Bruyette & Woods increased their target price on shares of PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a report on Monday, July 14th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $174.67.

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.