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

Key Points

• Analyst consensus is “Hold”: Seven analysts cover PJT Partners, with three buys, three holds, and one sell. Their average 12-month price target is $177.50.
• Quarterly results exceeded expectations: PJT reported $1.97 in earnings per share versus the $1.57 consensus estimate, while revenue rose 19.5% year over year to $486.29 million.
• Insiders sold shares while institutions maintained strong ownership: Company insiders sold $2.06 million worth of stock over the past quarter, while hedge funds and other institutional investors owned 89.23% of shares.

PJT Partners Inc. (NYSE:PJT - Get Free Report) has been assigned an average rating of "Hold" from the seven analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $177.50.

Several brokerages have recently issued reports on PJT. Zacks Research upgraded PJT Partners from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. UBS Group reiterated a "neutral" rating and issued a $176.00 target price on shares of PJT Partners in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods increased their price target on shares of PJT Partners from $185.00 to $195.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Weiss Ratings reissued a "hold (c)" rating on shares of PJT Partners in a research report on Friday, May 29th. Finally, BMO Capital Markets lifted their price objective on shares of PJT Partners from $183.00 to $194.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd.

Insider Buying and Selling

In other PJT Partners news, Director Emily K. Rafferty sold 1,100 shares of PJT Partners stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $167.35, for a total transaction of $184,085.00. Following the completion of the transaction, the director owned 9,568 shares in the company, valued at approximately $1,601,204.80. This trade represents a 10.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kievdi Don Cornwell sold 7,845 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $173.48, for a total value of $1,360,950.60. Following the completion of the transaction, the director directly owned 18,865 shares of the company's stock, valued at approximately $3,272,700.20. This trade represents a 29.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,951 shares of company stock valued at $2,061,681 over the last quarter. 10.98% of the stock is currently owned by company insiders.

Institutional Trading of PJT Partners

Hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its position in shares of PJT Partners by 79.3% during the 2nd quarter. Wasatch Advisors LP now owns 1,478,222 shares of the financial services provider's stock valued at $223,123,000 after buying an additional 653,685 shares during the period. Bank of New York Mellon Corp purchased a new stake in PJT Partners in the second quarter valued at $28,397,000. Bessemer Group Inc. lifted its stake in shares of PJT Partners by 1,446.5% in the 4th quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider's stock valued at $19,229,000 after purchasing an additional 107,564 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of PJT Partners by 390.1% during the 3rd quarter. Two Sigma Investments LP now owns 84,936 shares of the financial services provider's stock worth $15,096,000 after purchasing an additional 67,606 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of PJT Partners by 108.7% during the 4th quarter. Janus Henderson Group PLC now owns 121,918 shares of the financial services provider's stock worth $20,376,000 after purchasing an additional 63,504 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

PJT Partners Price Performance

NYSE PJT opened at $174.44 on Monday. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 23.86 and a beta of 0.84. The stock's fifty day moving average price is $164.47 and its 200 day moving average price is $155.26. 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 issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.40. The company had revenue of $486.29 million during the quarter, compared to analysts' expectations of $425.28 million. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The firm's revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 EPS. Research analysts expect that PJT Partners will post 8 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued 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 is presently 13.68%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source