PJT Partners Inc. (NYSE:PJT) Receives $93.25 Consensus Target Price from Brokerages

PJT Partners Inc. (NYSE:PJT) has received a consensus rating of “Reduce” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $93.25.

A number of analysts have recently commented on PJT shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $99.00 price target (down from $108.00) on shares of PJT Partners in a research report on Tuesday, January 9th. UBS Group reaffirmed a “sell” rating and issued a $75.00 target price (down from $100.00) on shares of PJT Partners in a report on Tuesday, March 26th. Finally, JMP Securities reiterated a “market outperform” rating and set a $110.00 price target on shares of PJT Partners in a report on Tuesday, April 9th.

PJT Partners Stock Up 1.1 %

NYSE PJT opened at $99.53 on Friday. The firm has a market capitalization of $2.38 billion, a PE ratio of 27.42 and a beta of 0.67. The stock’s 50 day moving average is $96.57 and its 200 day moving average is $94.02. PJT Partners has a twelve month low of $59.61 and a twelve month high of $107.35.

PJT Partners (NYSE:PJT) last released its earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.53. The firm had revenue of $329.39 million for the quarter, compared to the consensus estimate of $229.32 million. PJT Partners had a net margin of 7.57% and a return on equity of 17.44%. The company’s revenue was up 64.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. On average, research analysts anticipate that PJT Partners will post 4 earnings per share for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 5th. PJT Partners’s payout ratio is 27.55%.

Insider Buying and Selling

In related news, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $104.58, for a total value of $1,045,800.00. Following the completion of the transaction, the insider now owns 73,421 shares of the company’s stock, valued at approximately $7,678,368.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $104.58, for a total transaction of $1,045,800.00. Following the completion of the transaction, the insider now directly owns 73,421 shares of the company’s stock, valued at $7,678,368.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $93.21, for a total transaction of $466,050.00. Following the transaction, the general counsel now directly owns 1,541 shares of the company’s stock, valued at approximately $143,636.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,926 shares of company stock valued at $2,875,672. 10.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PJT Partners

Several institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its position in PJT Partners by 65.4% during the fourth quarter. Handelsbanken Fonder AB now owns 4,300 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 1,700 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of PJT Partners during the fourth quarter valued at approximately $1,397,000. Dark Forest Capital Management LP raised its holdings in shares of PJT Partners by 90.2% in the third quarter. Dark Forest Capital Management LP now owns 24,433 shares of the financial services provider’s stock worth $1,941,000 after buying an additional 11,589 shares during the period. Schroder Investment Management Group lifted its stake in shares of PJT Partners by 22.1% during the 3rd quarter. Schroder Investment Management Group now owns 371,730 shares of the financial services provider’s stock worth $29,530,000 after acquiring an additional 67,197 shares during the last quarter. Finally, Chartwell Investment Partners LLC purchased a new stake in PJT Partners in the third quarter worth $8,676,000. Institutional investors own 89.23% of the company’s stock.

About PJT Partners

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.