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

Key Points

• PJT Partners has an average analyst recommendation of "Hold" from seven research firms, with a mixed split of sell, hold, buy, and strong buy ratings. The average 1-year price target is about $173.33.
• The company recently reported better-than-expected quarterly results, posting EPS of $1.54 versus the $1.51 estimate and revenue of $418.2 million, up 28.9% year over year.
• There has also been notable insider selling, including stock sales by CFO Helen T. Meates and General Counsel David Adam Travin, while institutional investors still own 89.23% of the company.

PJT Partners Inc. (NYSE:PJT - Get Free Report) has earned an average recommendation of "Hold" from the seven research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $173.3333.

PJT has been the subject of a number of recent analyst reports. Wall Street Zen cut PJT Partners from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. UBS Group upped their target price on PJT Partners from $152.00 to $160.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of PJT Partners in a research note on Friday, May 29th. Zacks Research raised PJT Partners from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Finally, Keefe, Bruyette & Woods boosted their price target on PJT Partners from $166.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th.

Insider Buying and Selling

In other PJT Partners news, CFO Helen T. Meates sold 8,000 shares of the firm's stock in a transaction on 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 sale, the chief financial officer owned 58,466 shares of the company's stock, valued at $8,956,406.54. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction on 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 sale, the general counsel owned 2,052 shares in the company, valued at $312,786.36. This represents a 59.38% 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.

Institutional Trading of PJT Partners

A number of hedge funds and other institutional investors have recently modified their holdings of PJT. Versant Capital Management Inc lifted its position in PJT Partners by 73.3% in the second quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider's stock valued at $35,000 after buying an additional 99 shares during the last quarter. Allworth Financial LP increased its position in shares of PJT Partners by 85.8% during the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 133 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of PJT Partners in the 1st quarter valued at approximately $50,000. State of Wyoming purchased a new stake in shares of PJT Partners in the 2nd quarter valued at approximately $63,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of PJT Partners in the 4th quarter worth approximately $65,000. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Stock Up 0.1%

NYSE PJT opened at $163.18 on Friday. PJT Partners has a 52 week low of $127.73 and a 52 week high of $195.62. The company has a 50 day moving average price of $155.13 and a 200 day moving average price of $157.41. The firm has a market cap of $4.21 billion, a PE ratio of 23.79 and a beta of 0.85.

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

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. PJT Partners's payout ratio is currently 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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