PJT Partners (NYSE:PJT) Trading Down 5.8% – Here’s What Happened

PJT Partners Inc. (NYSE:PJT)’s share price fell 5.8% during trading on Tuesday . The stock traded as low as $132.30 and last traded at $132.90. 10,056 shares changed hands during trading, a decline of 96% from the average session volume of 230,713 shares. The stock had previously closed at $141.08.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PJT. JMP Securities lifted their price target on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. UBS Group boosted their price target on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price objective on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $123.80.

PJT Partners Trading Down 0.6 %

The company has a market cap of $3.31 billion, a P/E ratio of 37.97 and a beta of 0.61. The business’s 50 day simple moving average is $132.45 and its 200 day simple moving average is $116.96.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The firm had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. Sell-side analysts anticipate that PJT Partners Inc. will post 4.35 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s dividend payout ratio is presently 27.55%.

Insider Activity

In other PJT Partners news, Director Grace Reksten Skaugen sold 2,015 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $124.86, for a total transaction of $251,592.90. Following the completion of the transaction, the director now owns 500 shares in the company, valued at $62,430. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the transaction, the insider now owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Grace Reksten Skaugen sold 2,015 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $124.86, for a total value of $251,592.90. Following the sale, the director now owns 500 shares in the company, valued at $62,430. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,601 shares of company stock worth $2,870,848. 10.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PJT. SouthState Corp bought a new stake in shares of PJT Partners in the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in PJT Partners in the 2nd quarter worth about $30,000. Fidelis Capital Partners LLC purchased a new stake in PJT Partners in the 1st quarter worth about $39,000. GAMMA Investing LLC boosted its position in shares of PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares during the period. Finally, EntryPoint Capital LLC grew its stake in shares of PJT Partners by 27.6% during the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock valued at $157,000 after buying an additional 359 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.