Crestline Management LP Makes New Investment in PJT Partners Inc. (NYSE:PJT)

Crestline Management LP bought a new position in PJT Partners Inc. (NYSE:PJT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,476 shares of the financial services provider’s stock, valued at approximately $233,000.

A number of other hedge funds have also bought and sold shares of PJT. Raymond James Financial Inc. purchased a new position in PJT Partners in the 4th quarter worth about $89,192,000. FMR LLC raised its position in PJT Partners by 52.8% in the 4th quarter. FMR LLC now owns 637,797 shares of the financial services provider’s stock worth $100,651,000 after buying an additional 220,526 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in PJT Partners by 658.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 181,406 shares of the financial services provider’s stock worth $28,628,000 after buying an additional 157,483 shares during the last quarter. Norges Bank purchased a new position in PJT Partners in the 4th quarter worth about $20,269,000. Finally, Vanguard Group Inc. raised its position in PJT Partners by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider’s stock worth $396,987,000 after buying an additional 127,060 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PJT. Citizens Jmp lowered shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods upped their price target on shares of PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Finally, JMP Securities lowered shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $158.50.

Insider Buying and Selling

In related news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the completion of the sale, the general counsel now directly owns 2,288 shares of the company’s stock, valued at approximately $324,301.12. This represents a 68.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.71% of the stock is currently owned by insiders.

PJT Partners Stock Down 1.4%

NYSE PJT opened at $144.50 on Monday. PJT Partners Inc. has a 52 week low of $99.42 and a 52 week high of $190.28. The firm has a market capitalization of $3.37 billion, a P/E ratio of 29.49 and a beta of 0.76. The company has a 50-day moving average price of $137.97 and a 200-day moving average price of $152.45.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.11. The company had revenue of $324.50 million during the quarter, compared to analyst estimates of $361.26 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. As a group, equities research analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.69%. The ex-dividend date is Wednesday, June 4th. PJT Partners’s dividend payout ratio is 17.64%.

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.