PJT Partners (NYSE:PJT) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of PJT Partners (NYSE:PJT) from a buy rating to a hold rating in a report released on Saturday.

A number of other research analysts have also issued reports on the company. UBS Group restated a “neutral” rating and set a $176.00 price objective on shares of PJT Partners in a research report on Wednesday, July 29th. BMO Capital Markets increased their target price on PJT Partners from $183.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price target on shares of PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $177.50.

PJT Partners Stock Up 2.4%

Shares of NYSE PJT opened at $183.02 on Friday. The firm’s 50-day moving average price is $166.55 and its two-hundred day moving average price is $155.87. PJT Partners has a 52-week low of $127.73 and a 52-week high of $195.62. The stock has a market capitalization of $4.68 billion, a P/E ratio of 25.04 and a beta of 0.84.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, beating the consensus estimate of $1.57 by $0.40. The company had revenue of $486.29 million during the quarter, compared to analyst estimates of $425.28 million. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The business’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 earnings per share. As a group, equities research analysts expect that PJT Partners will post 8 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be given 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 0.5%. PJT Partners’s payout ratio is currently 13.68%.

Insiders Place Their Bets

In related news, Director Kievdi Don Cornwell sold 7,845 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $173.48, for a total value of $1,360,950.60. Following the completion of the transaction, the director directly owned 18,865 shares of the company’s stock, valued at $3,272,700.20. This represents a 29.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Emily K. Rafferty sold 1,100 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $167.35, for a total value of $184,085.00. Following the completion of the sale, the director owned 9,568 shares in the company, valued at approximately $1,601,204.80. This represents a 10.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 11,951 shares of company stock valued at $2,061,681. 10.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PJT. Compass Financial Management LLC bought a new position in PJT Partners in the 2nd quarter valued at about $32,000. Versant Capital Management Inc raised its position in shares of PJT Partners by 73.3% during the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock worth $35,000 after buying an additional 99 shares in the last quarter. Allworth Financial LP lifted its stake in shares of PJT Partners by 85.8% in the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 133 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of PJT Partners in the 1st quarter worth approximately $50,000. Finally, State of Wyoming acquired a new stake in shares of PJT Partners in the 2nd quarter worth approximately $63,000. 89.23% of the stock is owned by institutional investors and hedge funds.

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.