Zacks Investment Research lowered shares of PJT Partners Inc. (NYSE:PJT) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “PJT Partners Inc. is a financial advisory firm. The Company offers strategic advisory, restructuring and reorganization, fund placement and funds advisory services to corporations, financial sponsors, institutional investors and governments. PJT Partners Inc. is based in NEW YORK, United States. “

Other research analysts have also recently issued reports about the stock. Bank of America Corporation upgraded shares of PJT Partners from a neutral rating to a buy rating and boosted their target price for the company from $39.00 to $45.00 in a research note on Thursday, May 11th. BidaskClub raised shares of PJT Partners from a buy rating to a strong-buy rating in a research report on Monday, July 24th.

PJT Partners (PJT) traded up 0.4494% during mid-day trading on Tuesday, hitting $40.8628. 46,822 shares of the company were exchanged. The company’s market capitalization is $756.66 million. The company’s 50-day moving average is $41.63 and its 200 day moving average is $37.46. PJT Partners has a 12-month low of $23.98 and a 12-month high of $45.38.

PJT Partners (NYSE:PJT) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.34 by $0.07. PJT Partners had a negative return on equity of 115.47% and a negative net margin of 0.27%. The business had revenue of $109.31 million for the quarter. Analysts expect that PJT Partners will post $1.73 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, September 7th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. PJT Partners’s payout ratio is -200.00%.

Hedge funds have recently made changes to their positions in the stock. HighVista Strategies LLC bought a new stake in shares of PJT Partners during the first quarter worth about $1,284,000. Soros Fund Management LLC purchased a new position in shares of PJT Partners during the first quarter valued at $2,856,000. Renaissance Technologies LLC increased its position in shares of PJT Partners by 32.3% in the first quarter. Renaissance Technologies LLC now owns 377,200 shares of the financial services provider’s stock valued at $13,236,000 after buying an additional 92,100 shares in the last quarter. Hartwell J M Limited Partnership purchased a new position in shares of PJT Partners during the second quarter valued at $381,000. Finally, Malaga Cove Capital LLC purchased a new position in shares of PJT Partners during the second quarter valued at $736,000. 58.03% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Company Profile

PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.

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