Wasatch Advisors LP Has $223.12 Million Stock Holdings in PJT Partners Inc. $PJT

Key Points

• Wasatch Advisors increased its PJT Partners stake by 79.3% in the second quarter, owning 1.48 million shares worth approximately $223.1 million, or 5.72% of the company. Institutional investors and hedge funds collectively own 89.23% of PJT shares.
• PJT Partners reported quarterly earnings of $1.97 per share, beating estimates of $1.57, while revenue reached $486.29 million, up 19.5% year over year and above analyst expectations.
• The company announced a quarterly dividend of $0.25 per share, equivalent to a $1.00 annualized payout and a 0.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $177.50.

Wasatch Advisors LP increased its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 79.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,478,222 shares of the financial services provider's stock after purchasing an additional 653,685 shares during the quarter. PJT Partners accounts for 1.5% of Wasatch Advisors LP's holdings, making the stock its 18th biggest position. Wasatch Advisors LP owned approximately 5.72% of PJT Partners worth $223,123,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PJT. Oregon Public Employees Retirement Fund boosted its holdings in shares of PJT Partners by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,563 shares of the financial services provider's stock valued at $930,000 after buying an additional 64 shares during the period. Crestwood Advisors Group LLC increased its position in shares of PJT Partners by 0.5% during the fourth quarter. Crestwood Advisors Group LLC now owns 14,339 shares of the financial services provider's stock worth $2,397,000 after acquiring an additional 66 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of PJT Partners by 1.9% during the fourth quarter. Maryland State Retirement & Pension System now owns 3,561 shares of the financial services provider's stock worth $595,000 after acquiring an additional 67 shares during the period. New Age Alpha Advisors LLC raised its holdings in shares of PJT Partners by 6.9% during the fourth quarter. New Age Alpha Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $201,000 after acquiring an additional 78 shares during the period. Finally, HighTower Advisors LLC lifted its position in PJT Partners by 1.4% in the 4th quarter. HighTower Advisors LLC now owns 5,661 shares of the financial services provider's stock valued at $946,000 after acquiring an additional 78 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Grace Reksten Skaugen sold 1,283 shares of the company's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $167.67, for a total transaction of $215,120.61. Following the sale, the director directly owned 500 shares of the company's stock, valued at approximately $83,835. This represents a 71.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Emily K. Rafferty sold 1,100 shares of PJT Partners stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $167.35, for a total transaction of $184,085.00. Following the completion of the transaction, the director directly owned 9,568 shares of the company's stock, valued at approximately $1,601,204.80. This trade represents a 10.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 10.98% of the company's stock.

PJT Partners Stock Performance

Shares of NYSE PJT opened at $175.08 on Wednesday. The stock has a 50 day moving average price of $161.89 and a 200 day moving average price of $155.59. The stock has a market capitalization of $4.48 billion, a PE ratio of 23.95 and a beta of 0.83. PJT Partners Inc. has a 52 week low of $127.73 and a 52 week high of $195.62.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.40. The firm had revenue of $486.29 million for the quarter, compared to analyst estimates of $425.28 million. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The business's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.54 EPS. As a group, research analysts forecast that PJT Partners Inc. will post 8 EPS for the current year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd 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 is Wednesday, September 2nd. PJT Partners's payout ratio is presently 13.68%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group reiterated a "neutral" rating and set a $176.00 target price on shares of PJT Partners in a report on Wednesday, July 29th. Zacks Research raised PJT Partners from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. BMO Capital Markets increased their price objective on PJT Partners from $183.00 to $194.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of PJT Partners in a research report on Friday, May 29th. Finally, Wall Street Zen upgraded PJT Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $177.50.

About PJT Partners

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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