David Adam Travin Sells 3,000 Shares of PJT Partners (NYSE:PJT) Stock

PJT Partners Inc. (NYSE:PJT) General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the completion of the sale, the general counsel owned 2,052 shares in the company, valued at approximately $312,786.36. The trade was a 59.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

PJT Partners Stock Performance

Shares of NYSE PJT opened at $154.53 on Friday. The business’s 50 day moving average price is $145.48 and its 200-day moving average price is $161.45. PJT Partners Inc. has a fifty-two week low of $127.73 and a fifty-two week high of $195.62. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 22.53 and a beta of 0.86.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The company had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $409.38 million. During the same quarter in the previous year, the business earned $1.05 EPS. PJT Partners’s revenue was up 28.9% compared to the same quarter last year. Sell-side analysts predict that PJT Partners Inc. will post 7.5 earnings per share for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be issued a $0.25 dividend. The ex-dividend date 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 is presently 14.58%.

Institutional Trading of PJT Partners

A number of hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its stake in PJT Partners by 51.1% in the first quarter. PNC Financial Services Group Inc. now owns 1,850 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 626 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in PJT Partners in the first quarter worth about $50,000. Dimensional Fund Advisors LP lifted its stake in PJT Partners by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 369,377 shares of the financial services provider’s stock worth $51,609,000 after acquiring an additional 9,337 shares during the period. KBC Group NV lifted its stake in PJT Partners by 56.4% in the first quarter. KBC Group NV now owns 918 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 331 shares during the period. Finally, Independent Financial Group LLC purchased a new stake in PJT Partners in the first quarter worth about $384,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PJT has been the topic of a number of research analyst reports. Wall Street Zen cut shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Keefe, Bruyette & Woods upped their price target on shares of PJT Partners from $166.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings restated a “hold (c+)” rating on shares of PJT Partners in a report on Thursday, January 22nd. Zacks Research cut shares of PJT Partners from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Wednesday, April 1st. One 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $173.33.

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.