Kievdi Don Cornwell Sells 7,845 Shares of PJT Partners (NYSE:PJT) Stock

PJT Partners Inc. (NYSE:PJT) Director Kievdi Don Cornwell sold 7,845 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $173.48, for a total transaction of $1,360,950.60. Following the sale, the director directly owned 18,865 shares of the company’s stock, valued at $3,272,700.20. The trade was a 29.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PJT Partners Trading Up 2.1%

PJT opened at $174.44 on Friday. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 23.86 and a beta of 0.84. The company’s 50 day moving average is $164.47 and its 200 day moving average is $155.39. PJT Partners Inc. has a 12-month low of $127.73 and a 12-month high of $195.62.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, beating 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 business had revenue of $486.29 million during the quarter, compared to analysts’ expectations of $425.28 million. During the same period in the prior year, the company earned $1.54 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. As a group, analysts predict that PJT Partners Inc. will post 8 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.25 dividend. 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 is 13.68%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PJT shares. BMO Capital Markets lifted their target price on PJT Partners from $183.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. UBS Group restated a “neutral” rating and issued a $176.00 price target on shares of PJT Partners in a research report on Wednesday, July 29th. Wall Street Zen raised PJT Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods lifted their price objective on PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $177.50.

Institutional Trading of PJT Partners

Several institutional investors and hedge funds have recently modified their holdings of PJT. Compass Financial Management LLC bought a new position in PJT Partners in the 2nd quarter worth $36,000. Versant Capital Management Inc raised its holdings in PJT Partners by 73.3% during the second quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 99 shares during the period. Allworth Financial LP lifted its position in shares of PJT Partners by 85.8% in the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of PJT Partners in the first quarter valued at about $50,000. Finally, State of Wyoming bought a new position in shares of PJT Partners in the second quarter worth about $63,000. 89.23% of the stock is currently owned by institutional investors.

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.