PJT Partners (NYSE:PJT) Lowered to “Market Perform” Rating by JMP Securities

JMP Securities lowered shares of PJT Partners (NYSE:PJT) from an outperform rating to a market perform rating in a research report released on Monday, MarketBeat reports.

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of PJT Partners from $151.00 to $159.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $130.00 to $175.00 in a research note on Friday, December 6th.

PJT Partners Price Performance

PJT opened at $152.15 on Monday. PJT Partners has a 12 month low of $88.51 and a 12 month high of $168.92. The stock has a market capitalization of $3.61 billion, a P/E ratio of 38.62 and a beta of 0.66. The business has a 50 day simple moving average of $159.27 and a 200-day simple moving average of $138.39.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. PJT Partners’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. Research analysts anticipate that PJT Partners will post 4.4 EPS for the current year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a $0.25 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. PJT Partners’s payout ratio is 25.38%.

Insider Buying and Selling at PJT Partners

In other news, Director James Costos sold 1,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the sale, the director now directly owns 9,360 shares in the company, valued at $1,510,797.60. This represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth C. Whitney sold 1,725 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the sale, the director now directly owns 9,100 shares in the company, valued at approximately $1,453,725. The trade was a 15.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,766 shares of company stock worth $762,980. 11.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PJT Partners

Institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in PJT Partners during the third quarter worth approximately $453,000. Citigroup Inc. boosted its holdings in shares of PJT Partners by 101.1% during the third quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider’s stock worth $4,014,000 after purchasing an additional 15,135 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PJT Partners by 7.9% in the third quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock valued at $82,556,000 after purchasing an additional 45,327 shares during the period. Atria Investments Inc grew its position in shares of PJT Partners by 5.9% in the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock valued at $342,000 after purchasing an additional 142 shares during the period. Finally, Raymond James & Associates increased its stake in PJT Partners by 5.4% in the third quarter. Raymond James & Associates now owns 115,268 shares of the financial services provider’s stock valued at $15,370,000 after purchasing an additional 5,929 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.