PJT Partners Inc. (NYSE:PJT) Director Sells $1,449,914.76 in Stock

PJT Partners Inc. (NYSE:PJT - Get Free Report) Director Kievdi Don Cornwell sold 9,597 shares of PJT Partners stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $151.08, for a total transaction of $1,449,914.76. Following the transaction, the director now owns 19,250 shares in the company, valued at $2,908,290. This represents a 33.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kievdi Don Cornwell also recently made the following trade(s):

• On Friday, May 30th, Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock. The stock was sold at an average price of $150.29, for a total transaction of $1,563,466.87.

PJT Partners Trading Down 0.1%

Shares of PJT traded down $0.11 during trading hours on Friday, reaching $150.77. 349,763 shares of the stock traded hands, compared to its average volume of 245,662. PJT Partners Inc. has a 52-week low of $99.77 and a 52-week high of $190.28. The company's 50-day moving average price is $139.59 and its two-hundred day moving average price is $152.53. The company has a market cap of $3.68 billion, a P/E ratio of 30.77 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.11. The company had revenue of $324.50 million for the quarter, compared to analysts' expectations of $361.26 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. PJT Partners's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. On average, research analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Wednesday, June 4th. PJT Partners's dividend payout ratio (DPR) is 17.64%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $152.00 to $161.00 and gave the stock a "market perform" rating in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $154.50.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds have recently made changes to their positions in PJT. Barclays PLC boosted its stake in shares of PJT Partners by 158.6% in the third quarter. Barclays PLC now owns 52,045 shares of the financial services provider's stock worth $6,940,000 after acquiring an additional 31,922 shares during the period. KBC Group NV lifted its stake in PJT Partners by 25.4% in the 4th quarter. KBC Group NV now owns 1,007 shares of the financial services provider's stock worth $159,000 after purchasing an additional 204 shares in the last quarter. Perigon Wealth Management LLC purchased a new stake in PJT Partners in the 4th quarter worth $219,000. OLD National Bancorp IN lifted its stake in PJT Partners by 25.6% in the 4th quarter. OLD National Bancorp IN now owns 2,390 shares of the financial services provider's stock worth $377,000 after purchasing an additional 487 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT purchased a new stake in PJT Partners in the 4th quarter worth $435,000. Institutional investors own 89.23% 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.