PJT Partners (NYSE:PJT) Shares Gap Down – Should You Sell?

PJT Partners Inc. (NYSE:PJT) shares gapped down prior to trading on Tuesday. The stock had previously closed at $153.58, but opened at $145.01. PJT Partners shares last traded at $148.3290, with a volume of 26,741 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Capital One Financial set a $160.00 target price on shares of PJT Partners in a research note on Tuesday, October 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of PJT Partners in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research note on Wednesday, August 26th. Wall Street Zen cut shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, UBS Group lowered their price objective on shares of PJT Partners from $176.00 to $165.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PJT Partners has a consensus rating of “Hold” and an average target price of $167.67.

PJT Partners Trading Down 3.1%

The company’s 50-day moving average price is $152.71 and its two-hundred day moving average price is $156.30. The company has a market cap of $3.92 billion, a P/E ratio of 21.93 and a beta of 0.88.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, November 3rd. The financial services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. PJT Partners had a net margin of 10.50% and a return on equity of 27.57%. The business had revenue of $385.12 million for the quarter, compared to the consensus estimate of $409.74 million. During the same period in the previous year, the firm earned $1.85 EPS. The business’s revenue for the quarter was down 13.8% on a year-over-year basis. Equities analysts forecast that PJT Partners Inc. will post 7.60 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be given a $0.25 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $1.00 annualized dividend and a yield of 0.7%. PJT Partners’s payout ratio is 14.31%.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Kievdi Cornwell sold 7,845 shares of the company’s stock in a transaction on 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 owned 18,865 shares of the company’s stock, valued at approximately $3,272,700.20. This represents a 29.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Emily Rafferty sold 1,100 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $167.35, for a total value of $184,085.00. Following the sale, the director owned 9,568 shares of the company’s stock, valued at $1,601,204.80. This trade represents a 10.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 10,668 shares of company stock valued at $1,846,561. Corporate insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds have recently modified their holdings of PJT. Wasatch Advisors LP boosted its stake in PJT Partners by 79.3% in the 2nd 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 period. Congress Asset Management Co. grew its position 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 worth $103,976,000 after purchasing an additional 5,106 shares in the last quarter. Dimensional Fund Advisors LP grew its position in PJT Partners by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 369,377 shares of the financial services provider’s stock worth $51,609,000 after purchasing an additional 9,337 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in PJT Partners during the 2nd quarter worth approximately $28,397,000. Finally, Principal Financial Group Inc. raised its stake in PJT Partners by 15.1% during the 1st quarter. Principal Financial Group Inc. now owns 188,774 shares of the financial services provider’s stock valued at $26,376,000 after purchasing an additional 24,735 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Company Profile

PJT Partners Inc (NYSE:PJT) is a global, advisory-focused investment banking and financial services firm. The company provides strategic advice to corporations, financial sponsors, institutional investors and other clients on mergers and acquisitions, divestitures, capital raising, liability management and other complex financial matters.

Its businesses also include restructuring and special situations advisory, private capital advisory and placement services, and shareholder engagement and governance advice.