Squarepoint Ops LLC Acquires 135,294 Shares of PJT Partners Inc. $PJT

Squarepoint Ops LLC boosted its stake in shares of PJT Partners Inc. (NYSE:PJT) by 619.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,151 shares of the financial services provider’s stock after acquiring an additional 135,294 shares during the period. Squarepoint Ops LLC owned 0.61% of PJT Partners worth $23,720,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Nykredit A S bought a new position in PJT Partners in the second quarter valued at approximately $209,000. Corient Private Wealth LP boosted its holdings in shares of PJT Partners by 0.9% in the 2nd quarter. Corient Private Wealth LP now owns 10,116 shares of the financial services provider’s stock valued at $1,527,000 after purchasing an additional 90 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of PJT Partners in the 2nd quarter valued at $226,000. California State Teachers Retirement System increased its stake in shares of PJT Partners by 13,745.6% in the 2nd quarter. California State Teachers Retirement System now owns 3,860,291 shares of the financial services provider’s stock valued at $582,672,000 after purchasing an additional 3,832,410 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in shares of PJT Partners in the 2nd quarter valued at $32,000. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Trading Down 0.6%

Shares of PJT stock opened at $181.70 on Wednesday. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 24.86 and a beta of 0.84. The business’s 50-day moving average price is $170.78 and its 200-day moving average price is $157.12. PJT Partners Inc. has a 12 month low of $127.73 and a 12 month high of $195.62.

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

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. PJT Partners’s payout ratio is presently 13.68%.

Insider Activity at PJT Partners

In other news, Director James Costos sold 1,723 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $175.00, for a total transaction of $301,525.00. Following the transaction, the director owned 11,289 shares in the company, valued at approximately $1,975,575. This represents a 13.24% 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 link. Also, Director Kievdi Cornwell sold 7,845 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $173.48, for a total value of $1,360,950.60. Following the transaction, the director directly owned 18,865 shares in the company, valued at approximately $3,272,700.20. This trade represents a 29.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,951 shares of company stock worth $2,061,681 over the last quarter. 10.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on PJT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a research report on Wednesday, August 26th. UBS Group restated a “neutral” rating and issued a $176.00 price target on shares of PJT Partners in a research note on Wednesday, July 29th. Zacks Research raised shares of PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, BMO Capital Markets upped their price objective on shares of PJT Partners from $183.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $177.50.

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.