Gibbs Wealth Management Boosts Position in PJT Partners Inc. $PJT

Gibbs Wealth Management grew its position in PJT Partners Inc. (NYSE:PJT) by 90.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,177 shares of the financial services provider’s stock after buying an additional 4,358 shares during the quarter. Gibbs Wealth Management’s holdings in PJT Partners were worth $1,282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PJT. Wasatch Advisors LP increased its holdings in PJT Partners by 40.4% during the 1st quarter. Wasatch Advisors LP now owns 824,537 shares of the financial services provider’s stock valued at $115,204,000 after acquiring an additional 237,428 shares in the last quarter. Geode Capital Management LLC lifted its stake in PJT Partners by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 682,886 shares of the financial services provider’s stock valued at $114,195,000 after buying an additional 16,388 shares in the last quarter. Morgan Stanley grew its holdings in PJT Partners by 7.5% during the 4th quarter. Morgan Stanley now owns 659,729 shares of the financial services provider’s stock valued at $110,307,000 after buying an additional 45,758 shares during the last quarter. Invesco Ltd. increased its position 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 buying an additional 16,445 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in PJT Partners by 9.8% during the second quarter. Alliancebernstein L.P. now owns 528,689 shares of the financial services provider’s stock worth $87,239,000 after buying an additional 47,279 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Trading Down 0.3%

PJT stock opened at $163.72 on Friday. The company has a market cap of $4.23 billion, a PE ratio of 23.87 and a beta of 0.85. The stock has a 50-day moving average price of $157.99 and a two-hundred day moving average price of $156.74. PJT Partners Inc. has a 12-month low of $127.73 and a 12-month high of $195.62.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.03. The business 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%.The company’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. Equities analysts forecast that PJT Partners Inc. will post 7.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Helen T. Meates sold 8,000 shares of the company’s stock in a transaction 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 directly owned 58,466 shares of the company’s stock, valued at approximately $8,956,406.54. This represents a 12.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David Adam Travin sold 3,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $312,786.36. This trade represents a 59.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 10.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PJT. UBS Group upped their price objective on PJT Partners from $160.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Weiss Ratings restated a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Wednesday, April 1st. Finally, Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. One equities research 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $175.33.

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.