Bridge City Capital LLC Makes New Investment in PJT Partners Inc. $PJT

Bridge City Capital LLC purchased a new stake in PJT Partners Inc. (NYSE:PJT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,325 shares of the financial services provider’s stock, valued at approximately $1,704,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Voya Investment Management LLC grew its stake in PJT Partners by 31.1% during the first quarter. Voya Investment Management LLC now owns 17,429 shares of the financial services provider’s stock valued at $2,403,000 after acquiring an additional 4,136 shares in the last quarter. Jump Financial LLC bought a new position in PJT Partners in the 1st quarter valued at $802,000. Sierra Summit Advisors LLC purchased a new position in shares of PJT Partners during the 1st quarter valued at $578,000. Virtu Financial LLC bought a new position in shares of PJT Partners in the first quarter worth $392,000. Finally, Mutual of America Capital Management LLC raised its position in shares of PJT Partners by 36.5% in the second quarter. Mutual of America Capital Management LLC now owns 65,784 shares of the financial services provider’s stock worth $10,855,000 after buying an additional 17,602 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Zacks Research upgraded PJT Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Keefe, Bruyette & Woods boosted their price objective on PJT Partners from $180.00 to $182.00 and gave the stock a “market perform” rating in a report on Wednesday, November 5th. BMO Capital Markets started coverage on shares of PJT Partners in a research note on Friday, October 3rd. They issued an “outperform” rating and a $205.00 target price on the stock. Evercore ISI set a $180.00 price target on shares of PJT Partners in a research note on Monday, October 13th. Finally, Wall Street Zen raised shares of PJT Partners from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $185.50.

PJT Partners Price Performance

Shares of PJT opened at $168.69 on Thursday. PJT Partners Inc. has a 1 year low of $119.76 and a 1 year high of $190.27. The stock has a 50 day simple moving average of $171.64 and a two-hundred day simple moving average of $171.33. The firm has a market cap of $4.10 billion, a P/E ratio of 25.95 and a beta of 0.85.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.61. PJT Partners had a net margin of 10.75% and a return on equity of 29.66%. The firm had revenue of $447.09 million during the quarter, compared to analyst estimates of $386.76 million. On average, equities analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, December 3rd. PJT Partners’s dividend payout ratio is presently 15.38%.

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.