PJT Partners (NYSE:PJT) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of PJT Partners (NYSE:PJT) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

PJT has been the subject of a number of other research reports. Wall Street Zen lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Keefe, Bruyette & Woods raised their price objective on shares of PJT Partners from $166.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. UBS Group boosted their target price on shares of PJT Partners from $152.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, PJT Partners presently has an average rating of “Hold” and a consensus target price of $173.33.

PJT Partners Stock Up 3.9%

Shares of NYSE PJT opened at $150.65 on Monday. PJT Partners has a fifty-two week low of $127.73 and a fifty-two week high of $195.62. The business has a 50 day moving average price of $154.93 and a two-hundred day moving average price of $157.54. The firm has a market cap of $3.89 billion, a PE ratio of 21.96 and a beta of 0.85.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. The company had revenue of $418.20 million for the quarter, compared to analyst estimates of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.PJT Partners’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 EPS. On average, analysts anticipate that PJT Partners will post 7.5 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, June 3rd. PJT Partners’s payout ratio is 14.58%.

Insider Activity at PJT Partners

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in PJT Partners by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider’s stock worth $19,631,000 after buying an additional 24,502 shares during the period. Jackson Creek Investment Advisors LLC acquired a new position in shares of PJT Partners during the fourth quarter valued at $1,373,000. Bessemer Group Inc. boosted its holdings in shares of PJT Partners by 1,446.5% during the fourth quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock valued at $19,229,000 after acquiring an additional 107,564 shares during the period. Azora Capital LP bought a new position in shares of PJT Partners during the third quarter worth about $40,061,000. Finally, Kornitzer Capital Management Inc. KS grew its position in shares of PJT Partners by 28.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock worth $5,861,000 after acquiring an additional 7,830 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

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.