PJT Partners Inc. (NYSE:PJT) Holdings Trimmed by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. reduced its stake in PJT Partners by 32.4%, selling 8,461 shares and holding approximately 17,662 shares valued at $2,435,000.
• Analysts have given PJT Partners a consensus rating of "Hold" with a price target of $164.00, while Wolfe Research has reiterated an "underperform" rating.
• Insider trading activities include General Counsel David Adam Travin selling 5,000 shares and Director Kievdi Don Cornwell selling 10,403 shares, representing significant reductions in their ownership stakes.

Victory Capital Management Inc. lessened its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 32.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 17,662 shares of the financial services provider's stock after selling 8,461 shares during the period. Victory Capital Management Inc. owned 0.08% of PJT Partners worth $2,435,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in PJT Partners by 52.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider's stock worth $23,438,000 after purchasing an additional 58,656 shares during the period. TimesSquare Capital Management LLC grew its stake in PJT Partners by 1.5% during the 1st quarter. TimesSquare Capital Management LLC now owns 132,852 shares of the financial services provider's stock valued at $18,318,000 after purchasing an additional 1,904 shares during the last quarter. MQS Management LLC acquired a new position in shares of PJT Partners in the 1st quarter valued at about $341,000. Pittenger & Anderson Inc. lifted its holdings in shares of PJT Partners by 63.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 2,305 shares of the financial services provider's stock valued at $318,000 after buying an additional 895 shares during the period. Finally, Diversify Wealth Management LLC raised its holdings in PJT Partners by 52.8% in the 1st quarter. Diversify Wealth Management LLC now owns 9,974 shares of the financial services provider's stock worth $1,411,000 after purchasing an additional 3,446 shares during the period. Institutional investors own 89.23% of the company's stock.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of the firm's stock in a transaction dated 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 owned 8,847 shares of the company's stock, valued at $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.75% of the stock is owned by corporate insiders.

PJT Partners Price Performance

Shares of PJT traded up $0.03 during midday trading on Friday, reaching $178.65. 83,565 shares of the stock were exchanged, compared to its average volume of 282,060. PJT Partners Inc. has a twelve month low of $116.06 and a twelve month high of $190.27. The business's 50-day moving average price is $165.43 and its 200 day moving average price is $155.01. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 30.70 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.36 by $0.18. PJT Partners had a return on equity of 25.47% 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 period in the prior year, the business earned $1.19 EPS. The firm's revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. PJT Partners's dividend payout ratio (DPR) is currently 17.18%.

Analyst Ratings Changes

PJT has been the subject of a number of analyst reports. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods raised their price target on PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research report on Monday, July 14th. 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, the company presently has an average rating of "Hold" and a consensus price target of $174.67.

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.