PJT Partners (NYSE:PJT) Raised to “Buy” at Wall Street Zen

PJT Partners (NYSE:PJT) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other equities analysts have also issued reports about the stock. Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Keefe, Bruyette & Woods lifted their target price on shares of PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Finally, UBS Group reissued a “neutral” rating and set a $176.00 price target on shares of PJT Partners in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, PJT Partners presently has a consensus rating of “Hold” and an average price target of $179.33.

PJT Partners Stock Down 0.2%

PJT opened at $168.03 on Friday. PJT Partners has a 52 week low of $127.73 and a 52 week high of $195.62. The business has a 50 day moving average price of $159.53 and a two-hundred day moving average price of $156.26. The company has a market cap of $4.34 billion, a PE ratio of 22.99 and a beta of 0.85.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.40. The company had revenue of $486.29 million for the quarter, compared to the consensus estimate of $425.28 million. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The company’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the business posted $1.54 EPS. As a group, sell-side analysts expect that PJT Partners will post 8 EPS for the current fiscal year.

Insider Transactions at PJT Partners

In related news, Director Grace Reksten Skaugen sold 1,283 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.67, for a total value of $215,120.61. Following the sale, the director owned 500 shares in the company, valued at $83,835. This represents a 71.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel David Adam Travin sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total value of $457,290.00. Following the completion of the transaction, the general counsel directly owned 2,052 shares of the company’s stock, valued at $312,786.36. The trade was a 59.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 10.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PJT. Royal Bank of Canada raised its position in PJT Partners by 45.7% during the first quarter. Royal Bank of Canada now owns 11,471 shares of the financial services provider’s stock worth $1,581,000 after acquiring an additional 3,596 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of PJT Partners by 57.7% during the 1st quarter. AQR Capital Management LLC now owns 7,330 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 2,681 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PJT Partners by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider’s stock worth $1,915,000 after purchasing an additional 620 shares during the last quarter. Millennium Management LLC raised its position in shares of PJT Partners by 1,394.5% during the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock worth $7,247,000 after purchasing an additional 49,046 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in PJT Partners by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider’s stock valued at $51,090,000 after buying an additional 19,806 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Company Profile

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.