Tidal Investments LLC Makes New Investment in PJT Partners Inc. (NYSE:PJT)

Tidal Investments LLC purchased a new position in PJT Partners Inc. (NYSE:PJT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 127,107 shares of the financial services provider’s stock, valued at approximately $20,059,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of PJT Partners by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider’s stock worth $396,987,000 after purchasing an additional 127,060 shares during the last quarter. FMR LLC raised its stake in shares of PJT Partners by 52.8% in the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider’s stock worth $100,651,000 after purchasing an additional 220,526 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of PJT Partners by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 635,270 shares of the financial services provider’s stock worth $100,273,000 after purchasing an additional 16,233 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of PJT Partners in the fourth quarter worth about $89,192,000. Finally, Alliancebernstein L.P. raised its stake in shares of PJT Partners by 9.8% in the fourth quarter. Alliancebernstein L.P. now owns 474,710 shares of the financial services provider’s stock worth $74,914,000 after purchasing an additional 42,463 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Up 2.3%

PJT Partners stock opened at $150.67 on Monday. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 30.75 and a beta of 0.76. PJT Partners Inc. has a 52 week low of $99.77 and a 52 week high of $190.28. The business’s 50-day moving average price is $138.21 and its 200 day moving average price is $152.80.

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

PJT Partners Dividend Announcement

The business 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.66%. The ex-dividend date is Wednesday, June 4th. PJT Partners’s dividend payout ratio (DPR) is 17.64%.

Insider Buying and Selling

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total value of $708,700.00. Following the sale, the general counsel now directly owns 2,288 shares of the company’s stock, valued at approximately $324,301.12. This trade represents a 68.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their price objective on PJT Partners from $152.00 to $161.00 and gave the stock a “market perform” rating in a research note on Monday, May 12th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $154.50.

PJT Partners Company Profile

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.