PJT Partners (NYSE:PJT) Earns “Market Perform” Rating from Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT)‘s stock had its “market perform” rating reissued by investment analysts at Keefe, Bruyette & Woods in a research note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $159.00 price objective on the financial services provider’s stock, down from their prior price objective of $195.00. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 17.30% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. UBS Group reduced their price target on shares of PJT Partners from $176.00 to $165.00 and set a “neutral” rating for the company in a research report on Wednesday. Zacks Research upgraded PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. BMO Capital Markets reissued an “outperform” rating on shares of PJT Partners in a report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a report on Wednesday, August 26th. Finally, Wall Street Zen cut PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $170.00.

PJT Partners Trading Down 1.5%

PJT stock opened at $135.55 on Wednesday. PJT Partners has a twelve month low of $127.73 and a twelve month high of $195.62. The company’s 50 day moving average is $164.40 and its two-hundred day moving average is $158.46. The stock has a market cap of $3.47 billion, a P/E ratio of 18.54 and a beta of 0.89.

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

Insider Buying and Selling at PJT Partners

In other news, Director Emily K. Rafferty sold 1,100 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $167.35, for a total transaction of $184,085.00. Following the completion of the sale, the director owned 9,568 shares in the company, valued at approximately $1,601,204.80. This represents a 10.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kievdi Cornwell sold 7,845 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $173.48, for a total value of $1,360,950.60. Following the transaction, the director directly owned 18,865 shares in the company, valued at approximately $3,272,700.20. This represents a 29.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 11,951 shares of company stock valued at $2,061,681. Company insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Several institutional investors have recently added to or reduced their stakes in PJT. Congress Asset Management Co. raised its stake in PJT Partners by 0.7% during the 3rd quarter. Congress Asset Management Co. now owns 728,580 shares of the financial services provider’s stock valued at $103,976,000 after acquiring an additional 5,106 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of PJT Partners in the 2nd quarter valued at approximately $412,000. Tidal Investments LLC increased its holdings in shares of PJT Partners by 3.6% in the second quarter. Tidal Investments LLC now owns 119,193 shares of the financial services provider’s stock valued at $17,991,000 after purchasing an additional 4,147 shares during the period. WINTON GROUP Ltd acquired a new position in shares of PJT Partners in the second quarter valued at approximately $4,604,000. Finally, Squarepoint Ops LLC raised its stake in shares of PJT Partners by 619.0% during the second quarter. Squarepoint Ops LLC now owns 157,151 shares of the financial services provider’s stock worth $23,720,000 after purchasing an additional 135,294 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

About PJT Partners

PJT Partners Inc (NYSE:PJT) is a global, independent investment banking and advisory firm that provides strategic, restructuring and private capital advisory services to corporations, financial sponsors, institutional investors and other organizations.

The company advises clients on mergers and acquisitions, divestitures, strategic transactions, shareholder activism and other corporate matters. Its restructuring and capital solutions business provides advice on financial restructuring, liability management, distressed situations and related capital structure issues.