PJT Partners (NYSE:PJT) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of PJT Partners (NYSE:PJT) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

PJT has been the subject of a number of other research reports. UBS Group restated a “neutral” rating and issued a $176.00 target price on shares of PJT Partners in a research report on Wednesday, July 29th. 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 price target on shares of PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. BMO Capital Markets boosted their price objective on shares of PJT Partners from $183.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research note on Wednesday, August 26th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PJT Partners has a consensus rating of “Hold” and an average price target of $177.50.

PJT Partners Stock Down 1.4%

PJT opened at $180.15 on Friday. The business’s fifty day simple moving average is $167.06 and its 200 day simple moving average is $155.95. PJT Partners has a 52 week low of $127.73 and a 52 week high of $195.62. The stock has a market cap of $4.61 billion, a PE ratio of 24.64 and a beta of 0.83.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.40. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The firm had revenue of $486.29 million during the quarter, compared to analyst estimates of $425.28 million. During the same quarter in the previous year, the company posted $1.54 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts anticipate that PJT Partners will post 8 earnings per share for the current year.

PJT Partners Announces Dividend

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

Insider Activity

In related news, Director Emily K. Rafferty sold 1,100 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $167.35, for a total value of $184,085.00. Following the sale, the director directly owned 9,568 shares of the company’s stock, valued at $1,601,204.80. This trade represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Grace Reksten Skaugen sold 1,283 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $167.67, for a total value of $215,120.61. Following the transaction, the director owned 500 shares in the company, valued at approximately $83,835. This represents a 71.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 11,951 shares of company stock valued at $2,061,681. 10.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PJT Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Compass Financial Management LLC bought a new stake in shares of PJT Partners in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc raised its holdings in shares of PJT Partners by 73.3% during the second quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 99 shares in the last quarter. Allworth Financial LP lifted its stake in PJT Partners by 85.8% in the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 133 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in PJT Partners in the first quarter worth $50,000. Finally, State of Wyoming bought a new stake in PJT Partners in the second quarter valued at $63,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.