TimesSquare Capital Management LLC Buys 10,570 Shares of PJT Partners Inc. $PJT

Key Points

• TimesSquare Capital Management increased its PJT Partners stake by 8.0% in the fourth quarter, buying 10,570 additional shares and bringing its total to 142,496 shares valued at about $23.8 million.
• PJT Partners reported solid quarterly results, with EPS of $1.54 beating estimates and revenue of $418.2 million topping forecasts; revenue rose 28.9% from a year earlier.
• The company declared a quarterly dividend of $0.25 per share, payable June 17, representing a 0.7% annualized yield, while several insiders recently sold shares.

TimesSquare Capital Management LLC boosted its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,496 shares of the financial services provider's stock after buying an additional 10,570 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.59% of PJT Partners worth $23,825,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in PJT Partners by 50.8% during the 3rd quarter. CWM LLC now owns 181 shares of the financial services provider's stock valued at $32,000 after buying an additional 61 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in PJT Partners during the 3rd quarter valued at about $33,000. Allworth Financial LP lifted its holdings in PJT Partners by 85.8% during the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider's stock valued at $48,000 after buying an additional 133 shares in the last quarter. State of Wyoming bought a new stake in PJT Partners during the 2nd quarter valued at about $63,000. Finally, Quadrant Capital Group LLC bought a new stake in PJT Partners during the 3rd quarter valued at about $90,000. Institutional investors own 89.23% of the company's stock.

PJT Partners Stock Performance

NYSE:PJT opened at $153.79 on Wednesday. PJT Partners Inc. has a one year low of $127.73 and a one year high of $195.62. The firm has a market cap of $3.97 billion, a P/E ratio of 22.42 and a beta of 0.86. The firm has a 50-day simple moving average of $146.69 and a 200-day simple moving average of $160.16.

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

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. PJT Partners's payout ratio is currently 14.58%.

Insider Activity

In other news, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total value of $457,290.00. Following the transaction, the general counsel owned 2,052 shares of the company's stock, valued at $312,786.36. The trade was a 59.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Helen T. Meates sold 8,000 shares of PJT Partners stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders own 10.98% of the company's stock.

Analyst Ratings Changes

PJT has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of PJT Partners from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Keefe, Bruyette & Woods lifted their price objective on shares of PJT Partners from $166.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday, April 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 for the company in a report on Wednesday, April 1st. UBS Group boosted their price target on shares of PJT Partners from $152.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Finally, Zacks Research lowered shares of PJT Partners from a "hold" rating to a "strong sell" rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $173.33.

PJT Partners 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.

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