PJT Partners (NYSE:PJT) Director Sells $301,525.00 in Stock

PJT Partners Inc. (NYSE:PJT) Director James Costos sold 1,723 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $175.00, for a total value of $301,525.00. Following the sale, the director owned 11,289 shares of the company’s stock, valued at $1,975,575. The trade was a 13.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

PJT Partners Stock Performance

PJT opened at $174.44 on Monday. PJT Partners Inc. has a 1 year low of $127.73 and a 1 year high of $195.62. The firm has a 50 day moving average price of $164.47 and a 200 day moving average price of $155.26. The company has a market cap of $4.46 billion, a PE ratio of 23.86 and a beta of 0.84.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.40. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. The firm had revenue of $486.29 million for the quarter, compared to analysts’ expectations of $425.28 million. During the same period in the previous year, the company posted $1.54 earnings per share. PJT Partners’s revenue was up 19.5% compared to the same quarter last year. On average, sell-side analysts predict that PJT Partners Inc. will post 8 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. PJT Partners’s payout ratio is presently 13.68%.

Hedge Funds Weigh In On PJT Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Compass Financial Management LLC acquired a new stake in shares of PJT Partners during the second quarter valued at about $32,000. Versant Capital Management Inc lifted its stake in shares of PJT Partners by 73.3% in the second quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 99 shares in the last quarter. Allworth Financial LP lifted its stake in shares of PJT Partners by 85.8% in the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in PJT Partners in the first quarter valued at about $50,000. Finally, State of Wyoming purchased a new position in PJT Partners in the second quarter valued at about $63,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PJT shares. UBS Group reiterated a “neutral” rating and issued a $176.00 price target on shares of PJT Partners in a report on Wednesday, July 29th. Keefe, Bruyette & Woods upped their target price on PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded PJT Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research upgraded PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, BMO Capital Markets boosted their price target on PJT Partners from $183.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $177.50.

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.