PJT Partners (PJT) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of PJT Partners (NYSE:PJT) from a hold rating to a sell rating in a research report released on Saturday, Zacks.com reports.

According to Zacks, “PJT Partners Inc. is a financial advisory firm. The Company offers strategic advisory, restructuring and reorganization, fund placement and funds advisory services to corporations, financial sponsors, institutional investors and governments. PJT Partners Inc. is based in NEW YORK, United States. “

Shares of NYSE:PJT opened at $40.24 on Friday. The firm has a market capitalization of $910.35 million, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 0.64 and a beta of 1.14. PJT Partners has a 1 year low of $35.28 and a 1 year high of $61.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.67 and a quick ratio of 2.67.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Thursday, February 7th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.18). The business had revenue of $175.39 million during the quarter. PJT Partners had a return on equity of 17.81% and a net margin of 4.68%. As a group, equities analysts anticipate that PJT Partners will post 2.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Tuesday, March 5th. PJT Partners’s dividend payout ratio is presently 10.47%.

In other PJT Partners news, Chairman Paul J. Taubman acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $42.92 per share, for a total transaction of $171,680.00. Following the completion of the acquisition, the chairman now owns 453,200 shares of the company’s stock, valued at approximately $19,451,344. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Paul J. Taubman acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average price of $40.58 per share, with a total value of $202,900.00. Following the completion of the acquisition, the chairman now directly owns 460,000 shares of the company’s stock, valued at approximately $18,666,800. The disclosure for this purchase can be found here. Corporate insiders own 3.00% of the company’s stock.

Large investors have recently modified their holdings of the stock. Ropes Wealth Advisors LLC bought a new stake in PJT Partners during the first quarter valued at about $42,000. Meeder Asset Management Inc. boosted its holdings in PJT Partners by 195.7% during the fourth quarter. Meeder Asset Management Inc. now owns 1,304 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 863 shares during the period. Edge Wealth Management LLC boosted its holdings in PJT Partners by 42.5% during the fourth quarter. Edge Wealth Management LLC now owns 1,425 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 425 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in PJT Partners during the fourth quarter valued at about $60,000. Finally, Quantamental Technologies LLC bought a new stake in PJT Partners during the fourth quarter valued at about $70,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic advisory, shareholder engagement, restructuring and special situations, and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.

Read More: What are retained earnings?

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