PJT Partners Inc. $PJT Stake Boosted by Klingman & Associates LLC

Key Points

• Klingman & Associates LLC more than doubled its PJT Partners stake in the first quarter, increasing holdings by 106.9% to 14,233 shares worth about $1.99 million.
• Insiders sold shares in recent transactions, including CFO Helen T. Meates and General Counsel David Adam Travin, while institutional investors still own 89.23% of the company.
• PJT Partners beat quarterly expectations with EPS of $1.54 and revenue of $418.2 million, and analysts currently assign a consensus Hold rating with a $175.33 price target.

Klingman & Associates LLC lifted its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 106.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,233 shares of the financial services provider's stock after purchasing an additional 7,353 shares during the quarter. Klingman & Associates LLC owned about 0.06% of PJT Partners worth $1,989,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in PJT Partners by 1.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,563 shares of the financial services provider's stock valued at $930,000 after purchasing an additional 64 shares during the period. Crestwood Advisors Group LLC increased its position in PJT Partners by 0.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 14,339 shares of the financial services provider's stock worth $2,397,000 after buying an additional 66 shares during the period. Maryland State Retirement & Pension System increased its position in PJT Partners by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,561 shares of the financial services provider's stock worth $595,000 after buying an additional 67 shares during the period. New Age Alpha Advisors LLC lifted its stake in PJT Partners by 6.9% in the fourth quarter. New Age Alpha Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $201,000 after buying an additional 78 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in PJT Partners by 1.4% in the fourth quarter. HighTower Advisors LLC now owns 5,661 shares of the financial services provider's stock valued at $946,000 after buying an additional 78 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Insider Activity

In other PJT Partners news, CFO Helen T. Meates sold 8,000 shares of the business'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 sale, the chief financial officer directly owned 58,466 shares in the company, valued at approximately $8,956,406.54. The trade was a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David Adam Travin sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the sale, the general counsel directly owned 2,052 shares of the company's stock, valued at approximately $312,786.36. This represents a 59.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 10.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings restated a "hold (c)" rating on shares of PJT Partners in a research report on Friday, May 29th. The Goldman Sachs Group upgraded shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 price objective on the stock in a research report on Wednesday, April 1st. UBS Group boosted their target price on shares of PJT Partners from $160.00 to $162.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Zacks Research upgraded shares of PJT Partners from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of PJT Partners from $175.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $175.33.

PJT Partners Stock Performance

Shares of PJT stock opened at $163.72 on Friday. PJT Partners Inc. has a 1 year low of $127.73 and a 1 year high of $195.62. The stock has a fifty day moving average of $157.99 and a two-hundred day moving average of $156.74. The firm has a market capitalization of $4.23 billion, a PE ratio of 23.87 and a beta of 0.85.

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

PJT Partners Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.