PJT Partners (NYSE:PJT) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

PJT Partners Inc. (NYSE:PJT) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $146.28 and traded as high as $160.82. PJT Partners shares last traded at $156.3330, with a volume of 424,915 shares trading hands.

Wall Street Analysts Forecast Growth

PJT has been the subject of several research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of PJT Partners in a research note on Thursday, January 22nd. The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Wednesday, April 1st. Zacks Research downgraded shares of PJT Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. UBS Group lifted their price objective on shares of PJT Partners from $152.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of PJT Partners from $166.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $173.33.

PJT Partners Price Performance

The company’s fifty day moving average is $146.28 and its 200-day moving average is $160.59. The stock has a market cap of $4.04 billion, a PE ratio of 22.79 and a beta of 0.86.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.03. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The firm had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $409.38 million. During the same quarter last year, the company posted $1.05 earnings per share. The firm’s revenue was up 28.9% compared to the same quarter last year. Analysts expect that PJT Partners Inc. will post 7.5 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, June 3rd. PJT Partners’s dividend payout ratio (DPR) is 14.58%.

Insider Buying and Selling at PJT Partners

In related news, CFO Helen T. Meates sold 8,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the transaction, the chief financial officer owned 58,466 shares of the company’s stock, valued at $8,956,406.54. This trade represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the transaction, the general counsel directly owned 2,052 shares of the company’s stock, valued at $312,786.36. The trade was a 59.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PJT. Royal Bank of Canada increased its holdings in PJT Partners by 45.7% in the first quarter. Royal Bank of Canada now owns 11,471 shares of the financial services provider’s stock valued at $1,581,000 after buying an additional 3,596 shares in the last quarter. AQR Capital Management LLC increased its holdings in PJT Partners by 57.7% in the first quarter. AQR Capital Management LLC now owns 7,330 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 2,681 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in PJT Partners by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider’s stock valued at $1,915,000 after buying an additional 620 shares in the last quarter. Millennium Management LLC increased its holdings in PJT Partners by 1,394.5% in the first quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock valued at $7,247,000 after buying an additional 49,046 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in PJT Partners by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider’s stock valued at $51,090,000 after buying an additional 19,806 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.