PJT Partners (NYSE:PJT) Director James Costos Sells 1,723 Shares

PJT Partners Inc. (NYSE:PJT) Director James Costos sold 1,723 shares of PJT Partners stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $175.00, for a total transaction of $301,525.00. Following the sale, the director owned 11,289 shares in the company, valued at approximately $1,975,575. This trade represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

PJT Partners Stock Up 2.1%

NYSE:PJT opened at $174.44 on Friday. PJT Partners Inc. has a 12-month low of $127.73 and a 12-month high of $195.62. The firm has a market capitalization of $4.46 billion, a PE ratio of 23.86 and a beta of 0.84. The firm has a 50-day moving average price of $164.47 and a 200 day moving average price of $155.39.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.40. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. The firm had revenue of $486.29 million during the quarter, compared to analysts’ expectations of $425.28 million. During the same quarter last year, the company earned $1.54 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, research analysts expect that PJT Partners Inc. will post 8 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given 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 is Wednesday, September 2nd. PJT Partners’s dividend payout ratio (DPR) is 13.68%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PJT. Zacks Research upgraded PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Keefe, Bruyette & Woods boosted their target price on shares of PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Wall Street Zen upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, BMO Capital Markets lifted their price target on shares of PJT Partners from $183.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, PJT Partners presently has an average rating of “Hold” and a consensus target price of $177.50.

Hedge Funds Weigh In On PJT Partners

Several institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP grew its holdings in shares of PJT Partners by 79.3% during the second quarter. Wasatch Advisors LP now owns 1,478,222 shares of the financial services provider’s stock worth $223,123,000 after purchasing an additional 653,685 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in PJT Partners during the 2nd quarter worth about $28,397,000. Bessemer Group Inc. lifted its position in PJT Partners by 1,446.5% during the 4th quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock worth $19,229,000 after buying an additional 107,564 shares in the last quarter. Two Sigma Investments LP grew its holdings in PJT Partners by 390.1% during the 3rd quarter. Two Sigma Investments LP now owns 84,936 shares of the financial services provider’s stock worth $15,096,000 after acquiring an additional 67,606 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in PJT Partners by 108.7% during the 4th quarter. Janus Henderson Group PLC now owns 121,918 shares of the financial services provider’s stock worth $20,376,000 after acquiring an additional 63,504 shares during the last quarter. 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.