PJT Partners (NYSE:PJT) Shares Cross Above 50-Day Moving Average – Here’s What Happened

PJT Partners Inc. (NYSE:PJT)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $146.28 and traded as high as $160.82. PJT Partners shares last traded at $156.3330, with a volume of 424,915 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Wednesday, April 1st. Wall Street Zen lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Zacks Research lowered shares of PJT Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. UBS Group raised their price objective on shares of PJT Partners from $152.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of PJT Partners in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $173.33.

PJT Partners Price Performance

The firm’s fifty day simple moving average is $146.28 and its 200 day simple moving average is $160.59. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 22.79 and a beta of 0.86.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.03. The business had revenue of $418.20 million during the quarter, compared to analyst estimates of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. Equities research analysts forecast that PJT Partners Inc. will post 7.5 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, June 3rd. PJT Partners’s dividend payout ratio (DPR) is presently 14.58%.

Insider Activity at PJT Partners

In other news, CFO Helen T. Meates sold 8,000 shares of PJT Partners stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $153.19, for a total value of $1,225,520.00. Following the transaction, the chief financial officer owned 58,466 shares of the company’s stock, valued at $8,956,406.54. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the transaction, the general counsel directly owned 2,052 shares in the company, valued at approximately $312,786.36. This represents a 59.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PJT Partners

A number of institutional investors have recently modified their holdings of the company. Wasatch Advisors LP raised its position in shares of PJT Partners by 40.4% in the first quarter. Wasatch Advisors LP now owns 824,537 shares of the financial services provider’s stock valued at $115,204,000 after purchasing an additional 237,428 shares during the period. Geode Capital Management LLC raised its position in shares of PJT Partners by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 682,886 shares of the financial services provider’s stock valued at $114,195,000 after purchasing an additional 16,388 shares during the period. Morgan Stanley raised its position in shares of PJT Partners by 7.5% in the fourth quarter. Morgan Stanley now owns 659,729 shares of the financial services provider’s stock valued at $110,307,000 after purchasing an additional 45,758 shares during the period. Congress Asset Management Co. raised its position in shares of PJT Partners by 9.9% in the fourth quarter. Congress Asset Management Co. now owns 583,926 shares of the financial services provider’s stock valued at $97,632,000 after purchasing an additional 52,548 shares during the period. Finally, Invesco Ltd. raised its position in shares of PJT Partners by 3.2% in the fourth quarter. Invesco Ltd. now owns 535,857 shares of the financial services provider’s stock valued at $89,595,000 after purchasing an additional 16,445 shares during the period. Institutional investors own 89.23% of the company’s stock.

PJT Partners Company Profile

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.