PJT Partners Inc. (NYSE:PJT) Given Average Recommendation of "Hold" by Brokerages

Key Points

• PJT Partners has an average analyst rating of "Hold" from seven covering analysts, with a mix of sell, hold, buy, and strong buy opinions. The average 12-month price target is $173.33.
• The company recently reported strong quarterly results, with EPS of $1.54 beating estimates and revenue of $418.2 million topping expectations. Revenue rose 28.9% year over year.
• Insider selling was notable, as both the general counsel and CFO sold shares in recent transactions. Meanwhile, institutional investors own a large majority of the stock at 89.23%.

Shares of PJT Partners Inc. (NYSE:PJT - Get Free Report) have been given an average rating of "Hold" by the seven analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $173.3333.

A number of research firms recently issued reports on PJT. Weiss Ratings restated a "hold (c+)" rating on shares of PJT Partners in a research report on Thursday, January 22nd. The Goldman Sachs Group upgraded shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Wednesday, April 1st. Keefe, Bruyette & Woods upped their price objective on shares of PJT Partners from $166.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Zacks Research downgraded shares of PJT Partners from a "hold" rating to a "strong sell" rating in a research report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of PJT Partners from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th.

Insider Transactions at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total value of $457,290.00. Following the completion of the transaction, the general counsel owned 2,052 shares in the company, valued at approximately $312,786.36. This represents a 59.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Helen T. Meates sold 8,000 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the transaction, the chief financial officer owned 58,466 shares of the company's stock, valued at approximately $8,956,406.54. This trade represents a 12.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 10.98% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. EFG Asset Management North America Corp. acquired a new position in shares of PJT Partners during the 3rd quarter worth about $1,256,000. Mutual of America Capital Management LLC raised its position in shares of PJT Partners by 19.1% during the 3rd quarter. Mutual of America Capital Management LLC now owns 78,321 shares of the financial services provider's stock worth $13,920,000 after purchasing an additional 12,537 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PJT Partners by 17.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 208,264 shares of the financial services provider's stock worth $37,015,000 after purchasing an additional 31,594 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of PJT Partners by 28.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider's stock worth $19,631,000 after purchasing an additional 24,502 shares during the last quarter. Finally, Azora Capital LP acquired a new position in shares of PJT Partners during the 3rd quarter worth about $40,061,000. Institutional investors and hedge funds own 89.23% of the company's stock.

PJT Partners Price Performance

NYSE PJT opened at $156.33 on Friday. The company has a market capitalization of $4.04 billion, a PE ratio of 22.79 and a beta of 0.86. The company has a fifty day moving average of $146.28 and a 200 day moving average of $160.59. PJT Partners has a 1 year low of $127.73 and a 1 year high of $195.62.

PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.03. The company had revenue of $418.20 million during the quarter, compared to the consensus estimate of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The firm's quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share. Research analysts expect that PJT Partners will post 7.5 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a $0.25 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. PJT Partners's dividend payout ratio is 14.58%.

PJT Partners Company Profile

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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