Wasatch Advisors LP Has $223.12 Million Stake in PJT Partners Inc. $PJT

Wasatch Advisors LP lifted its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 79.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,478,222 shares of the financial services provider’s stock after purchasing an additional 653,685 shares during the quarter. PJT Partners comprises approximately 1.5% of Wasatch Advisors LP’s holdings, making the stock its 18th biggest position. Wasatch Advisors LP owned about 0.06% of PJT Partners worth $223,123,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Jackson Creek Investment Advisors LLC bought a new position in shares of PJT Partners in the fourth quarter valued at about $1,373,000. Bessemer Group Inc. boosted its holdings in shares of 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 during the period. TimesSquare Capital Management LLC boosted its holdings in shares of PJT Partners by 8.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 142,496 shares of the financial services provider’s stock worth $23,825,000 after buying an additional 10,570 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in PJT Partners by 28.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock valued at $5,861,000 after buying an additional 7,830 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in PJT Partners by 28.5% in the 4th quarter. State of Alaska Department of Revenue now owns 17,010 shares of the financial services provider’s stock valued at $2,843,000 after buying an additional 3,775 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PJT Partners

In other news, Director Emily K. Rafferty sold 1,100 shares of PJT Partners stock in a transaction on Monday, August 10th. The stock was sold at an average price of $167.35, for a total value of $184,085.00. Following the transaction, the director owned 9,568 shares in the company, valued at approximately $1,601,204.80. This trade represents a 10.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Grace Reksten Skaugen sold 1,283 shares of PJT Partners stock in a transaction on Friday, July 31st. The shares were sold at an average price of $167.67, for a total value of $215,120.61. Following the completion of the transaction, the director owned 500 shares in the company, valued at approximately $83,835. The trade was a 71.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.98% of the stock is owned by insiders.

PJT Partners Stock Up 3.4%

Shares of PJT Partners stock opened at $175.08 on Wednesday. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 23.95 and a beta of 0.83. PJT Partners Inc. has a 12-month low of $127.73 and a 12-month high of $195.62. The firm’s 50-day moving average price is $161.89 and its two-hundred day moving average price is $155.59.

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

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. PJT Partners’s dividend payout ratio (DPR) is 13.68%.

Analyst Ratings Changes

PJT has been the subject of several research reports. Wall Street Zen upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. BMO Capital Markets increased their target price on PJT Partners from $183.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods boosted their price target on PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $176.00 price objective on shares of PJT Partners in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $177.50.

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.