James Costos Sells 1,723 Shares of PJT Partners (NYSE:PJT) Stock

Key Points

• Director James Costos sold 1,723 PJT Partners shares at an average price of $175, generating $301,525 and reducing his holdings by 13.24% to 11,289 shares.
• PJT Partners reported strong quarterly results, with EPS of $1.97 exceeding estimates of $1.57 and revenue rising 19.5% year over year to $486.29 million.
• The stock traded at $174.44, while analysts maintained a consensus “Hold” rating and an average price target of $177.50; the company also declared a quarterly dividend of $0.25 per share.

PJT Partners Inc. (NYSE:PJT - Get Free Report) Director James Costos sold 1,723 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $175.00, for a total transaction of $301,525.00. Following the completion of the sale, the director owned 11,289 shares of the company's stock, valued at $1,975,575. This trade represents a 13.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PJT Partners Stock Performance

PJT stock traded up $3.65 during trading on Friday, reaching $174.44. 264,227 shares of the company were exchanged, compared to its average volume of 391,981. The stock's 50 day moving average price is $164.02 and its 200 day moving average price is $155.26. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62. The company has a market cap of $4.46 billion, a P/E ratio of 23.86 and a beta of 0.84.

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

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. PJT Partners's dividend payout ratio (DPR) is presently 13.68%.

Wall Street Analyst Weigh In

A number of research firms have commented on PJT. Weiss Ratings reiterated a "hold (c)" rating on shares of PJT Partners in a research report on Friday, May 29th. Zacks Research raised PJT Partners from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods boosted their price objective on shares of PJT Partners from $185.00 to $195.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. UBS Group reissued a "neutral" rating and issued a $176.00 price objective on shares of PJT Partners in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of PJT Partners from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PJT Partners currently has an average rating of "Hold" and a consensus price target of $177.50.

Institutional Investors Weigh In On PJT Partners

A number of large investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund raised its position in shares of PJT Partners by 1.2% in 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 in the last quarter. Crestwood Advisors Group LLC grew 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 buying an additional 66 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of 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 last quarter. HighTower Advisors LLC increased its stake in shares of PJT Partners by 1.4% in the fourth quarter. HighTower Advisors LLC now owns 5,661 shares of the financial services provider's stock worth $946,000 after buying an additional 78 shares during the last quarter. Finally, New Age Alpha Advisors LLC raised its holdings 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 acquiring an additional 78 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

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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