PJT Partners (NYSE:PJT) General Counsel David Adam Travin Sells 3,000 Shares

Key Points

• PJT Partners General Counsel David Adam Travin sold 3,000 shares on May 6 at an average price of $152.43, for proceeds of about $457,290. After the sale, he held 2,052 shares, a 59.38% reduction in his position.
• The company beat first-quarter earnings expectations, reporting EPS of $1.54 versus the $1.51 consensus and revenue of $418.2 million versus $409.38 million expected. Revenue rose 28.9% year over year.
• PJT Partners also announced a quarterly dividend of $0.25 per share, payable June 17 to shareholders of record on June 3, implying an annualized yield of 0.6%.

PJT Partners Inc. (NYSE:PJT - Get Free Report) General Counsel David Adam Travin sold 3,000 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the transaction, the general counsel directly owned 2,052 shares of the company's stock, valued at $312,786.36. The trade was a 59.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

PJT Partners Stock Performance

PJT traded up $1.34 on Friday, reaching $154.53. The company had a trading volume of 250,386 shares, compared to its average volume of 359,792. The business has a 50 day simple moving average of $145.48 and a 200 day simple moving average of $161.45. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 22.53 and a beta of 0.86. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.03. The business had revenue of $418.20 million during the quarter, compared to analysts' expectations of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The business's quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. As a group, equities research analysts predict that PJT Partners Inc. will post 7.5 EPS for the current fiscal year.

PJT Partners Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PJT. Royal Bank of Canada increased its stake in shares of PJT Partners by 45.7% during the first quarter. Royal Bank of Canada now owns 11,471 shares of the financial services provider's stock valued at $1,581,000 after buying an additional 3,596 shares during the period. AQR Capital Management LLC boosted its holdings in PJT Partners by 57.7% in the first quarter. AQR Capital Management LLC now owns 7,330 shares of the financial services provider's stock valued at $1,011,000 after acquiring an additional 2,681 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PJT Partners by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider's stock valued at $1,915,000 after acquiring an additional 620 shares in the last quarter. Millennium Management LLC increased its position in PJT Partners by 1,394.5% during the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider's stock valued at $7,247,000 after purchasing an additional 49,046 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in PJT Partners by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider's stock worth $51,090,000 after purchasing an additional 19,806 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PJT. The Goldman Sachs Group upgraded PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 price objective for the company in a report on Wednesday, April 1st. Zacks Research downgraded PJT Partners from a "hold" rating to a "strong sell" rating in a research report on Friday, May 1st. Weiss Ratings reiterated a "hold (c+)" rating on shares of PJT Partners in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of PJT Partners from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, UBS Group boosted their price objective on shares of PJT Partners from $152.00 to $160.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $173.33.

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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