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

PJT Partners Inc. (NYSE:PJT - Get Free Report) has received a consensus recommendation of "Reduce" from the six research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $164.00.

PJT has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a report on Monday. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th.

Insider Buying and Selling at PJT Partners

In related news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the completion of the sale, the general counsel owned 2,288 shares of the company's stock, valued at approximately $324,301.12. The trade was a 68.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock in a transaction on Friday, May 30th. The shares were sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the completion of the sale, the director directly owned 8,847 shares of the company's stock, valued at approximately $1,329,615.63. The trade was a 54.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,000 shares of company stock valued at $3,722,082. 11.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its position in PJT Partners by 10.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,540 shares of the financial services provider's stock worth $2,398,000 after acquiring an additional 1,407 shares during the last quarter. Congress Asset Management Co. lifted its position in PJT Partners by 3.8% during the 2nd quarter. Congress Asset Management Co. now owns 504,146 shares of the financial services provider's stock worth $83,189,000 after acquiring an additional 18,571 shares during the last quarter. Perigon Wealth Management LLC bought a new position in shares of PJT Partners during the 2nd quarter worth about $220,000. Public Employees Retirement System of Ohio increased its holdings in shares of PJT Partners by 26.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 24,561 shares of the financial services provider's stock worth $4,053,000 after purchasing an additional 5,189 shares during the period. Finally, Revisor Wealth Management LLC bought a new position in shares of PJT Partners during the 2nd quarter worth about $234,000. Institutional investors and hedge funds own 89.23% of the company's stock.

PJT Partners Trading Up 0.0%

NYSE:PJT traded up $0.03 during trading hours on Monday, hitting $184.22. 502,432 shares of the stock traded hands, compared to its average volume of 249,573. The firm has a 50 day moving average price of $158.73 and a 200 day moving average price of $153.22. PJT Partners has a fifty-two week low of $116.06 and a fifty-two week high of $190.28. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 32.49 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.94 by $0.11. PJT Partners had a net margin of 10.47% and a return on equity of 23.81%. The business had revenue of $324.50 million for the quarter, compared to analysts' expectations of $361.26 million. During the same period in the previous year, the company posted $0.98 EPS. PJT Partners's revenue was down 1.5% on a year-over-year basis. Research analysts predict that PJT Partners will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Wednesday, June 4th. PJT Partners's payout ratio is presently 17.64%.

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.