PJT Partners Inc. (NYSE:PJT) Sees Significant Growth in Short Interest

PJT Partners Inc. (NYSE:PJT - Get Free Report) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 2,350,000 shares, an increase of 20.5% from the March 31st total of 1,950,000 shares. Based on an average daily volume of 318,100 shares, the days-to-cover ratio is presently 7.4 days. Approximately 10.9% of the company's shares are short sold.

PJT Partners Stock Performance

Shares of PJT traded up $4.24 on Thursday, hitting $146.55. 275,818 shares of the stock traded hands, compared to its average volume of 243,668. PJT Partners has a one year low of $97.74 and a one year high of $190.28. The company has a market capitalization of $3.41 billion, a PE ratio of 29.91 and a beta of 0.76. The business has a 50 day simple moving average of $138.24 and a 200 day simple moving average of $152.32.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.11. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The firm had revenue of $324.50 million for the quarter, compared to the consensus estimate of $361.26 million. During the same period in the prior year, the company posted $0.98 earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts expect that PJT Partners will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.68%. PJT Partners's payout ratio is 17.64%.

Insider Buying and Selling at PJT Partners

In related news, General Counsel David Adam Travin sold 5,000 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $141.74, for a total transaction of $708,700.00. Following the transaction, the general counsel now owns 2,288 shares in the company, valued at $324,301.12. The trade was a 68.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.71% of the company's stock.

Institutional Investors Weigh In On PJT Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in PJT. Versant Capital Management Inc bought a new position in shares of PJT Partners during the 1st quarter valued at $30,000. Principal Securities Inc. boosted its position in PJT Partners by 385.4% in the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock worth $31,000 after purchasing an additional 158 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of PJT Partners during the 1st quarter valued at about $39,000. CIBC Private Wealth Group LLC increased its position in shares of PJT Partners by 112.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 146 shares during the last quarter. Finally, Morse Asset Management Inc lifted its stake in shares of PJT Partners by 1,640.0% in the 1st quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock worth $60,000 after purchasing an additional 410 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 5th. JMP Securities lowered PJT Partners from an "outperform" rating to a "market perform" rating in a research report on Monday, January 13th. Finally, Citizens Jmp lowered shares of PJT Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $158.50.

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.