PJT Partners (NYSE:PJT) Announces Earnings Results

PJT Partners (NYSE:PJT) issued its quarterly earnings results on Tuesday. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.40, FiscalAI reports. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The company had revenue of $486.29 million for the quarter, compared to the consensus estimate of $425.28 million. During the same quarter in the prior year, the business posted $1.54 earnings per share. PJT Partners’s revenue for the quarter was up 19.5% on a year-over-year basis.

PJT Partners Trading Down 0.1%

PJT Partners stock opened at $168.86 on Tuesday. The company has a 50-day moving average price of $158.47 and a 200 day moving average price of $156.59. PJT Partners has a 12-month low of $127.73 and a 12-month high of $195.62. The stock has a market cap of $4.36 billion, a P/E ratio of 24.61 and a beta of 0.85.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PJT. Keefe, Bruyette & Woods boosted their price objective on PJT Partners from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. Zacks Research raised shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a report on Wednesday, April 1st. Finally, UBS Group upped their price objective on shares of PJT Partners from $160.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $175.33.

Insider Activity

In other news, CFO Helen T. Meates sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the sale, the chief financial officer owned 58,466 shares in the company, valued at $8,956,406.54. This trade represents a 12.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the sale, the general counsel directly owned 2,052 shares in the company, valued at approximately $312,786.36. The trade was a 59.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PJT. Invesco Ltd. increased its stake in PJT Partners by 3.2% during the fourth quarter. Invesco Ltd. now owns 535,857 shares of the financial services provider’s stock worth $89,595,000 after acquiring an additional 16,445 shares during the last quarter. XTX Topco Ltd acquired a new stake in PJT Partners in the 4th quarter valued at approximately $957,000. Voloridge Investment Management LLC increased its holdings in PJT Partners by 15.0% in the 4th quarter. Voloridge Investment Management LLC now owns 52,356 shares of the financial services provider’s stock valued at $8,754,000 after purchasing an additional 6,828 shares during the last quarter. Tudor Investment Corp ET AL raised its position in PJT Partners by 61.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 149,951 shares of the financial services provider’s stock valued at $25,072,000 after purchasing an additional 57,220 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in PJT Partners in the fourth quarter valued at approximately $761,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

About PJT Partners

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.