PJT Partners (NYSE:PJT) Director Sells $215,120.61 in Stock

PJT Partners Inc. (NYSE:PJT) Director Grace Reksten Skaugen sold 1,283 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.67, for a total transaction of $215,120.61. Following the sale, the director directly owned 500 shares in the company, valued at $83,835. The trade was a 71.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PJT Partners Stock Performance

PJT stock opened at $168.03 on Monday. The company has a fifty day moving average price of $159.53 and a 200-day moving average price of $156.26. The company has a market capitalization of $4.34 billion, a P/E ratio of 22.99 and a beta of 0.85. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.40. The company had revenue of $486.29 million for the quarter, compared to analysts’ expectations of $425.28 million. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. PJT Partners’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 earnings per share. As a group, sell-side analysts forecast that PJT Partners Inc. will post 8 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. PJT Partners’s payout ratio is 13.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PJT. UBS Group restated a “neutral” rating and set a $176.00 price objective on shares of PJT Partners in a research report on Wednesday. Keefe, Bruyette & Woods upped their target price on PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $179.33.

Institutional Trading of PJT Partners

Several hedge funds have recently modified their holdings of PJT. Versant Capital Management Inc lifted its position in shares of PJT Partners by 73.3% during the 2nd 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. Allworth Financial LP increased its stake in PJT Partners by 85.8% in the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in PJT Partners in the first quarter valued at $50,000. State of Wyoming acquired a new position in shares of PJT Partners during the second quarter valued at about $63,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of PJT Partners during the fourth quarter valued at about $65,000. 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.