PJT Partners Inc. (NYSE:PJT) Shares Purchased by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC has increased its stake in PJT Partners Inc. by 21.1%, owning 49,581 shares valued at approximately $6.84 million.
• PJT Partners reported a quarterly EPS of $1.54, exceeding estimates and showing a 13% revenue growth compared to the same quarter last year.
• The firm declared a quarterly dividend of $0.25 per share, translating to an annualized dividend yield of 0.6%.

Townsquare Capital LLC increased its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 21.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,581 shares of the financial services provider's stock after buying an additional 8,652 shares during the quarter. Townsquare Capital LLC owned about 0.21% of PJT Partners worth $6,836,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC grew its stake in PJT Partners by 52.8% in the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider's stock valued at $100,651,000 after purchasing an additional 220,526 shares during the last quarter. Congress Asset Management Co. grew its stake in PJT Partners by 19.7% in the first quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider's stock valued at $66,951,000 after purchasing an additional 79,894 shares during the last quarter. Invesco Ltd. grew its stake in PJT Partners by 39.5% in the fourth quarter. Invesco Ltd. now owns 287,935 shares of the financial services provider's stock valued at $45,439,000 after purchasing an additional 81,514 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in PJT Partners by 52.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider's stock valued at $23,438,000 after purchasing an additional 58,656 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in PJT Partners by 2.6% in the first quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider's stock valued at $19,797,000 after purchasing an additional 3,645 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Stock Up 0.0%

Shares of PJT Partners stock traded up $0.04 on Wednesday, reaching $182.91. 16,646 shares of the stock were exchanged, compared to its average volume of 279,413. PJT Partners Inc. has a twelve month low of $116.07 and a twelve month high of $190.27. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 31.45 and a beta of 0.77. The business has a 50 day moving average price of $170.18 and a two-hundred day moving average price of $156.00.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $343.11 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company's revenue was up 13.0% compared to the same quarter last year. Research analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, September 3rd. PJT Partners's dividend payout ratio is currently 17.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their target price on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research note on Monday, July 14th. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $174.67.

Insiders Place Their Bets

In other PJT Partners news, Director Grace Reksten Skaugen sold 1,504 shares of the company'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 value of $266,042.56. Following the sale, the director owned 500 shares in the company, valued at approximately $88,445. This represents a 75.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,792 shares of company stock worth $3,686,825. Corporate insiders own 11.75% of the company's stock.

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.