Trexquant Investment LP Buys 33,934 Shares of PJT Partners Inc. $PJT

Key Points

• Trexquant Investment LP increased its holdings in PJT Partners by 188.2% in the 1st quarter, owning approximately 51,966 shares valued at about $7.17 million.
• PJT Partners reported an earnings per share (EPS) of $1.54 for the last quarter, exceeding expectations by $0.18, and achieving revenue of $731.09 million.
• The firm declared a quarterly dividend of $0.25 per share, with a record date of September 3rd, reflecting an annual yield of 0.6%.

Trexquant Investment LP lifted its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 188.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,966 shares of the financial services provider's stock after buying an additional 33,934 shares during the quarter. Trexquant Investment LP owned about 0.22% of PJT Partners worth $7,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PJT. New York State Teachers Retirement System increased its stake in PJT Partners by 11.4% in the first quarter. New York State Teachers Retirement System now owns 12,253 shares of the financial services provider's stock valued at $1,689,000 after purchasing an additional 1,254 shares in the last quarter. Millennium Management LLC acquired a new stake in PJT Partners in the 4th quarter valued at $555,000. Principal Financial Group Inc. grew its position in PJT Partners by 2.6% in the 1st 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 period. GAMMA Investing LLC grew its position in PJT Partners by 18,294.4% in the 1st quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock valued at $11,312,000 after purchasing an additional 81,593 shares during the period. Finally, Richard Bernstein Advisors LLC acquired a new stake in PJT Partners in the 1st quarter valued at $3,373,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

PJT has been the subject of several research reports. Wolfe Research reissued an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research report on Monday, July 14th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $174.67.

PJT Partners Stock Down 1.7%

PJT Partners stock traded down $2.94 during midday trading on Wednesday, reaching $173.92. The stock had a trading volume of 177,806 shares, compared to its average volume of 272,335. PJT Partners Inc. has a 12 month low of $116.07 and a 12 month high of $190.27. The firm's 50-day moving average price is $177.66 and its 200 day moving average price is $156.94. The firm has a market capitalization of $4.23 billion, a PE ratio of 29.88 and a beta of 0.75.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating 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 business had revenue of $731.09 billion for the quarter, compared to analysts' expectations of $343.11 million. During the same period in the previous year, the business posted $1.19 EPS. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts expect that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 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 of this dividend is Wednesday, September 3rd. PJT Partners's payout ratio is presently 17.18%.

Insider Transactions at PJT Partners

In other news, General Counsel David Adam Travin sold 2,288 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $178.06, for a total transaction of $407,401.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Grace Reksten Skaugen sold 1,504 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $176.89, for a total value of $266,042.56. Following the transaction, the director directly owned 500 shares of the company's stock, valued at $88,445. The trade was a 75.05% decrease in their position. The disclosure for this sale can be found here. 11.75% of the stock is owned by insiders.

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.