Smith Group Asset Management LLC Makes New $668,000 Investment in PJT Partners Inc. $PJT

Smith Group Asset Management LLC purchased a new position in PJT Partners Inc. (NYSE:PJT) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,678 shares of the financial services provider’s stock, valued at approximately $668,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Corient Private Wealth LP boosted its holdings in shares of PJT Partners by 0.9% in the second quarter. Corient Private Wealth LP now owns 10,116 shares of the financial services provider’s stock worth $1,527,000 after buying an additional 90 shares during the period. 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 during the period. Royal Bank of Canada raised its holdings in shares of PJT Partners by 1.6% during the first quarter. Royal Bank of Canada now owns 7,326 shares of the financial services provider’s stock valued at $1,023,000 after acquiring an additional 118 shares during the period. Compass Financial Management LLC purchased a new stake in shares of PJT Partners in the 2nd quarter valued at approximately $36,000. Finally, First Bank & Trust lifted its position in shares of PJT Partners by 6.1% in the 2nd quarter. First Bank & Trust now owns 4,752 shares of the financial services provider’s stock valued at $717,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at PJT Partners

In other PJT Partners news, Director James Costos sold 1,723 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $175.00, for a total value of $301,525.00. Following the completion of the sale, the director owned 11,289 shares in the company, valued at $1,975,575. This represents a 13.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kievdi Cornwell sold 7,845 shares of PJT Partners stock in a transaction on Friday, August 21st. The shares were sold at an average price of $173.48, for a total transaction of $1,360,950.60. Following the sale, the director directly owned 18,865 shares of the company’s stock, valued at $3,272,700.20. This trade represents a 29.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,951 shares of company stock worth $2,061,681 in the last quarter. 10.98% of the stock is owned by corporate insiders.

PJT Partners Price Performance

Shares of PJT opened at $148.31 on Thursday. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 20.29 and a beta of 0.89. PJT Partners Inc. has a fifty-two week low of $127.73 and a fifty-two week high of $195.62. The business’s 50-day moving average is $154.90 and its 200-day moving average is $157.02.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.40. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. The business had revenue of $486.29 million during the quarter, compared to analyst estimates of $425.28 million. During the same period in the prior year, the firm earned $1.54 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts expect that PJT Partners Inc. will post 7.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on PJT shares. UBS Group lowered their price objective on shares of PJT Partners from $176.00 to $165.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Wall Street Zen lowered PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. The Goldman Sachs Group reduced their target price on PJT Partners from $203.00 to $182.00 and set a “buy” rating for the company in a report on Thursday, October 1st. Capital One Financial set a $160.00 target price on PJT Partners in a research report on Tuesday, October 6th. Finally, Keefe, Bruyette & Woods downgraded PJT Partners from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $195.00 to $159.00 in a report on Wednesday, October 7th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PJT Partners has a consensus rating of “Hold” and a consensus price target of $168.33.

PJT Partners Company Profile

PJT Partners Inc (NYSE:PJT) is a global, advisory-focused investment banking and financial services firm. The company provides strategic advice to corporations, financial sponsors, institutional investors and other clients on mergers and acquisitions, divestitures, capital raising, liability management and other complex financial matters.

Its businesses also include restructuring and special situations advisory, private capital advisory and placement services, and shareholder engagement and governance advice.