PJT Partners (NYSE:PJT) Upgraded at BMO Capital Markets

Key Points

• PJT Partners has been upgraded to a "strong-buy" rating by BMO Capital Markets, indicating a positive outlook for the company's stock.
• The company's stock has a market cap of $4.37 billion and reported a quarterly earnings per share (EPS) of $1.54, exceeding analysts' expectations.
• Approximately 89.23% of PJT Partners' stock is owned by institutional investors, reflecting strong interest from large financial entities.

PJT Partners (NYSE:PJT - Get Free Report) was upgraded by equities researchers at BMO Capital Markets to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently commented on PJT. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PJT Partners in a research note on Saturday, September 27th. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods lifted their price target on PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, PJT Partners currently has a consensus rating of "Hold" and an average price target of $182.25.

PJT Partners Trading Up 1.4%

Shares of NYSE PJT opened at $179.80 on Thursday. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 30.89 and a beta of 0.76. PJT Partners has a 1-year low of $119.76 and a 1-year high of $190.27. The stock's 50-day moving average is $180.36 and its 200 day moving average is $161.25.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.18. The company had revenue of $731.09 billion for the quarter, compared to analysts' expectations of $343.11 million. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.PJT Partners's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $1.19 EPS. On average, analysts forecast that PJT Partners will post 6.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Grace Reksten Skaugen sold 1,504 shares of PJT Partners stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total value of $266,042.56. Following the sale, the director directly owned 500 shares in the company, valued at approximately $88,445. This trade represents a 75.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David Adam Travin sold 2,288 shares of PJT Partners stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $178.06, for a total value of $407,401.28. The disclosure for this sale can be found here. 11.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PJT Partners

Several hedge funds have recently made changes to their positions in PJT. Millennium Management LLC bought a new stake in shares of PJT Partners during the fourth quarter valued at approximately $555,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of PJT Partners during the fourth quarter valued at approximately $201,000. Versant Capital Management Inc bought a new stake in shares of PJT Partners during the first quarter valued at approximately $30,000. GAMMA Investing LLC boosted its position in shares of PJT Partners by 18,294.4% during the first quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock valued at $11,312,000 after purchasing an additional 81,593 shares in the last quarter. Finally, Congress Asset Management Co. boosted its position in shares of PJT Partners by 19.7% during the first quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider's stock valued at $66,951,000 after purchasing an additional 79,894 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

About PJT Partners

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.

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