Walleye Capital LLC Purchases Shares of 28,630 PJT Partners Inc. $PJT

Key Points

• Walleye Capital LLC has acquired a new stake in PJT Partners Inc., purchasing 28,630 shares valued at approximately $3.95 million, representing 0.12% ownership as of the latest SEC filing.
• PJT Partners Inc. reported impressive earnings of $1.54 per share, exceeding expectations, with a revenue of $731.09 million for the quarter, a 13% increase compared to the same period last year.
• A quarterly dividend of $0.25 per share has been declared by PJT Partners, payable on September 17th, indicating a 0.5% yield and a dividend payout ratio of 17.18%.

Walleye Capital LLC acquired a new position in PJT Partners Inc. (NYSE:PJT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,630 shares of the financial services provider's stock, valued at approximately $3,948,000. Walleye Capital LLC owned approximately 0.12% of PJT Partners at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PJT. Versant Capital Management Inc bought a new stake in PJT Partners in the first quarter worth $30,000. Opal Wealth Advisors LLC bought a new stake in PJT Partners in the first quarter worth $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in PJT Partners in the first quarter worth $45,000. Morse Asset Management Inc boosted its holdings in PJT Partners by 1,640.0% in the first quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock worth $60,000 after purchasing an additional 410 shares in the last quarter. Finally, SouthState Corp boosted its holdings in PJT Partners by 126.7% in the first quarter. SouthState Corp now owns 544 shares of the financial services provider's stock worth $75,000 after purchasing an additional 304 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Stock Performance

Shares of NYSE:PJT traded down $2.60 during midday trading on Monday, hitting $178.82. The company's stock had a trading volume of 296,246 shares, compared to its average volume of 201,259. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 30.73 and a beta of 0.75. The stock's 50 day simple moving average is $177.00 and its 200 day simple moving average is $156.78. PJT Partners Inc. has a fifty-two week low of $116.07 and a fifty-two week high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.18. The company had revenue of $731.09 billion for the quarter, compared to the consensus estimate of $343.11 million. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.The firm's revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business posted $1.19 earnings per share. As a group, analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

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

Analyst Ratings Changes

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

Insider Activity

In related 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 SEC, which is available through this link. Also, Director Grace Reksten Skaugen sold 1,504 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $176.89, for a total value of $266,042.56. Following the completion of the transaction, the director directly owned 500 shares of the company's stock, valued at approximately $88,445. This trade represents a 75.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 11.75% of the company's stock.

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.