PJT Partners Inc. (NYSE:PJT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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. “

PJT has been the subject of several other research reports. BidaskClub cut PJT Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Bank of America Corporation upgraded PJT Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $39.00 to $45.00 in a research note on Thursday, May 11th.

PJT Partners (NYSE:PJT) opened at 40.59 on Tuesday. The firm has a 50-day moving average price of $41.77 and a 200-day moving average price of $37.71. The company’s market cap is $751.61 million. PJT Partners has a 52 week low of $23.98 and a 52 week high of $45.38.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by $0.07. PJT Partners had a negative return on equity of 115.47% and a negative net margin of 0.27%. The business had revenue of $109.31 million during the quarter. Equities research analysts anticipate that PJT Partners will post $1.73 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its position in PJT Partners by 15.7% in the second quarter. IFP Advisors Inc now owns 2,688 shares of the financial services provider’s stock valued at $108,000 after buying an additional 365 shares in the last quarter. Legal & General Group Plc boosted its position in PJT Partners by 4.0% in the second quarter. Legal & General Group Plc now owns 4,375 shares of the financial services provider’s stock valued at $175,000 after buying an additional 169 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in PJT Partners by 1.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,559 shares of the financial services provider’s stock valued at $183,000 after buying an additional 59 shares in the last quarter. Strs Ohio boosted its position in PJT Partners by 6.5% in the second quarter. Strs Ohio now owns 6,600 shares of the financial services provider’s stock valued at $265,000 after buying an additional 400 shares in the last quarter. Finally, Hartwell J M Limited Partnership acquired a new position in PJT Partners during the second quarter valued at $381,000. Hedge funds and other institutional investors own 58.03% of the company’s stock.

PJT Partners Company Profile

PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.

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