PJT Partners Inc. (NYSE:PJT) General Counsel Sells $407,401.28 in Stock

Key Points

• David Adam Travin, General Counsel of PJT Partners Inc., sold 2,288 shares worth approximately $407,401.28 on July 31st, indicating potential insider trading interest.
• PJT Partners reported a quarterly earnings per share of $1.54, exceeding analysts' expectations of $1.36, with revenues significantly higher at $731.09 million.
• The company declared a $0.25 quarterly dividend to be paid on September 17th, representing an annualized dividend yield of 0.6%.

PJT Partners Inc. (NYSE:PJT - Get Free Report) General Counsel David Adam Travin sold 2,288 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $178.06, for a total value of $407,401.28. The sale was disclosed in a legal filing with the SEC, which is available at this link.

PJT Partners Trading Down 1.1%

PJT stock traded down $1.94 during midday trading on Tuesday, hitting $179.79. 92,603 shares of the company's stock were exchanged, compared to its average volume of 282,885. The business has a 50-day simple moving average of $166.78 and a two-hundred day simple moving average of $155.25. The stock has a market capitalization of $4.39 billion, a PE ratio of 30.92 and a beta of 0.77. PJT Partners Inc. has a 1-year low of $116.07 and a 1-year high of $190.27.

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

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.25 dividend. The ex-dividend date 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 Upgrades and Downgrades

A number of brokerages have commented on PJT. Keefe, Bruyette & Woods increased their target price on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a report on Monday, July 14th. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, PJT Partners presently has an average rating of "Hold" and an average price target of $174.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PJT. FMR LLC increased its position in shares of PJT Partners by 52.8% during the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider's stock worth $100,651,000 after purchasing an additional 220,526 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in PJT Partners by 658.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 181,406 shares of the financial services provider's stock valued at $28,628,000 after purchasing an additional 157,483 shares in the last quarter. Norges Bank purchased a new stake in PJT Partners in the 4th quarter valued at approximately $20,269,000. Tidal Investments LLC purchased a new stake in PJT Partners in the 4th quarter valued at approximately $20,059,000. Finally, Vanguard Group Inc. boosted its stake in shares of PJT Partners by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider's stock worth $396,987,000 after acquiring an additional 127,060 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

About PJT Partners

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.