Millennium Management LLC Takes Position in PJT Partners Inc. (NYSE:PJT)

Millennium Management LLC bought a new stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,517 shares of the financial services provider's stock, valued at approximately $555,000.

Several other institutional investors and hedge funds have also bought and sold shares of PJT. Sanctuary Advisors LLC boosted its holdings in PJT Partners by 2.9% during the fourth quarter. Sanctuary Advisors LLC now owns 2,274 shares of the financial services provider's stock worth $375,000 after purchasing an additional 65 shares during the last quarter. Xponance Inc. lifted its position in shares of PJT Partners by 7.4% during the 4th quarter. Xponance Inc. now owns 1,659 shares of the financial services provider's stock worth $262,000 after buying an additional 115 shares in the last quarter. Atria Investments Inc lifted its position in shares of PJT Partners by 5.0% during the 4th quarter. Atria Investments Inc now owns 2,692 shares of the financial services provider's stock worth $425,000 after buying an additional 129 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of PJT Partners by 112.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock worth $44,000 after buying an additional 146 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of PJT Partners by 385.4% in the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock worth $31,000 after buying an additional 158 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Kievdi Don Cornwell sold 10,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $150.29, for a total value of $1,563,466.87. Following the transaction, the director now owns 8,847 shares in the company, valued at approximately $1,329,615.63. This represents a 54.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $708,700.00. Following the sale, the general counsel now owns 2,288 shares in the company, valued at approximately $324,301.12. The trade was a 68.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock worth $3,722,082 in the last three months. 11.75% of the stock is owned by corporate insiders.

PJT Partners Price Performance

Shares of PJT Partners stock opened at $154.41 on Monday. PJT Partners Inc. has a 1 year low of $99.77 and a 1 year high of $190.28. The company has a 50 day simple moving average of $140.75 and a two-hundred day simple moving average of $152.27. The firm has a market cap of $3.77 billion, a PE ratio of 31.51 and a beta of 0.74.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. The company had revenue of $324.50 million for the quarter, compared to the consensus estimate of $361.26 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. As a group, research analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Wednesday, June 4th. PJT Partners's dividend payout ratio is presently 17.64%.

PJT Partners Company 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.

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