PJT Partners Inc. (NYSE:PJT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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. “

Several other brokerages have also recently commented on PJT. BidaskClub cut shares of PJT Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. JMP Securities initiated coverage on shares of PJT Partners in a research note on Monday, September 18th. They issued an “outperform” rating and a $45.00 price objective for the company. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $45.67.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.07). PJT Partners had a negative net margin of 0.27% and a negative return on equity of 115.47%. The company had revenue of $109.31 million during the quarter.

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In related news, Director Dennis S. Hersch acquired 2,000 shares of PJT Partners stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average price of $38.45 per share, for a total transaction of $76,900.00. Following the completion of the purchase, the director now directly owns 18,000 shares of the company’s stock, valued at $692,100. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 3.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc lifted its stake in shares of PJT Partners by 15.7% in the second quarter. IFP Advisors Inc now owns 2,688 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 365 shares during the period. Legal & General Group Plc increased its holdings in PJT Partners by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 4,375 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 169 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in PJT Partners by 1.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,559 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 59 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new position in PJT Partners during the 2nd quarter valued at about $213,000. Finally, Strs Ohio increased its holdings in PJT Partners by 6.5% during the 2nd quarter. Strs Ohio now owns 6,600 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 59.19% of the company’s stock.

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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