PJT Partners (NYSE:PJT) Shares Pass Above 50 Day Moving Average - Time to Sell?

Key Points

• PJT Partners shares moved above their 50-day moving average, trading as high as $160.82 and last changing hands at $156.33, after recently trading below that level.
• Analyst sentiment is mixed: the stock has a consensus Hold rating, though Goldman Sachs upgraded it to Buy and KBW raised its price target to $175; the average price target is $173.33.
• Latest earnings beat estimates, with Q1 EPS of $1.54 and revenue of $418.2 million both topping forecasts, while the company also announced a quarterly dividend of $0.25 per share.

PJT Partners Inc. (NYSE:PJT - Get Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $146.28 and traded as high as $160.82. PJT Partners shares last traded at $156.3330, with a volume of 424,915 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PJT. Wall Street Zen lowered shares of PJT Partners from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. The Goldman Sachs Group raised shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 target price for the company in a report on Wednesday, April 1st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PJT Partners in a report on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price objective on shares of PJT Partners from $166.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Finally, UBS Group increased their price objective on shares of PJT Partners from $152.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $173.33.

PJT Partners Trading Down 2.1%

The company has a market capitalization of $4.04 billion, a PE ratio of 22.79 and a beta of 0.86. The stock's 50-day moving average is $146.28 and its two-hundred day moving average is $160.59.

PJT Partners (NYSE:PJT - Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The company's quarterly revenue was up 28.9% compared to the same quarter last year. During the same period last year, the company posted $1.05 earnings per share. On average, equities research analysts forecast that PJT Partners Inc. will post 7.5 EPS for the current fiscal year.

PJT Partners Announces Dividend

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

Insider Buying and Selling

In other news, General Counsel David Adam Travin sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the transaction, the general counsel directly owned 2,052 shares of the company's stock, valued at approximately $312,786.36. This trade represents a 59.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Helen T. Meates sold 8,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 58,466 shares in the company, valued at approximately $8,956,406.54. This trade represents a 12.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 10.98% of the company's stock.

Hedge Funds Weigh In On PJT Partners

Institutional investors have recently modified their holdings of the stock. EFG Asset Management North America Corp. bought a new position in shares of PJT Partners during the third quarter valued at approximately $1,256,000. Mutual of America Capital Management LLC boosted its stake in shares of PJT Partners by 19.1% during the third quarter. Mutual of America Capital Management LLC now owns 78,321 shares of the financial services provider's stock valued at $13,920,000 after purchasing an additional 12,537 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PJT Partners by 17.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 208,264 shares of the financial services provider's stock valued at $37,015,000 after purchasing an additional 31,594 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PJT Partners by 28.5% during the third quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider's stock valued at $19,631,000 after purchasing an additional 24,502 shares in the last quarter. Finally, Azora Capital LP bought a new position in shares of PJT Partners during the third quarter valued at approximately $40,061,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.