PJT Partners (NYSE:PJT) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded PJT Partners to “Buy” from “Hold,” though the broader analyst consensus remains “Hold” with a $179.33 target price.
• PJT Partners reported strong quarterly results, with earnings of $1.97 per share versus the $1.57 estimate and revenue of $486.29 million, up 19.5% year over year.
• The stock opened at $168.03, while institutional investors own 89.23% of shares; recent insider transactions included significant stock sales by a general counsel and a director.

PJT Partners (NYSE:PJT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other research analysts also recently weighed in on the company. Zacks Research raised PJT Partners from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Keefe, Bruyette & Woods upped their price target on shares of PJT Partners from $185.00 to $195.00 and gave the company an "outperform" rating in a research report on Wednesday. UBS Group reaffirmed a "neutral" rating and set a $176.00 price target on shares of PJT Partners in a research report on Wednesday. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of PJT Partners in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $179.33.

PJT Partners Trading Up 0.3%

NYSE:PJT opened at $168.03 on Friday. The company has a market cap of $4.34 billion, a PE ratio of 22.99 and a beta of 0.85. The company has a 50 day simple moving average of $159.53 and a two-hundred day simple moving average of $156.43. PJT Partners has a 12 month low of $127.73 and a 12 month high of $195.62.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.40. PJT Partners had a return on equity of 32.88% and a net margin of 10.57%.The firm had revenue of $486.29 million for the quarter, compared to the consensus estimate of $425.28 million. During the same period last year, the business posted $1.54 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. Research analysts forecast that PJT Partners will post 8 earnings per share for the current year.

Insider Activity

In other PJT Partners news, General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction on Wednesday, May 6th. The stock was 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 approximately $312,786.36. This represents a 59.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Grace Reksten Skaugen sold 1,283 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $167.67, for a total value of $215,120.61. Following the sale, the director directly owned 500 shares in the company, valued at approximately $83,835. This represents a 71.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.98% of the stock is owned by company insiders.

Institutional Trading of PJT Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in PJT. Jackson Creek Investment Advisors LLC bought a new position in PJT Partners during the fourth quarter valued at $1,373,000. Bessemer Group Inc. lifted its holdings 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 worth $19,229,000 after acquiring an additional 107,564 shares during the last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of PJT Partners by 8.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 142,496 shares of the financial services provider's stock worth $23,825,000 after acquiring an additional 10,570 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of PJT Partners by 28.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider's stock worth $5,861,000 after purchasing an additional 7,830 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in PJT Partners by 28.5% during the 4th quarter. State of Alaska Department of Revenue now owns 17,010 shares of the financial services provider's stock valued at $2,843,000 after purchasing an additional 3,775 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

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.

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