Sanctuary Advisors LLC Cuts Position in PJT Partners Inc. (NYSE:PJT)

Sanctuary Advisors LLC decreased its position in shares of PJT Partners Inc. (NYSE:PJT) by 16.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,209 shares of the financial services provider’s stock after selling 437 shares during the period. Sanctuary Advisors LLC’s holdings in PJT Partners were worth $295,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp purchased a new stake in shares of PJT Partners in the 2nd quarter valued at $26,000. Quarry LP lifted its stake in PJT Partners by 186.3% in the third quarter. Quarry LP now owns 209 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares during the last quarter. GAMMA Investing LLC boosted its position in PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares during the period. KBC Group NV grew its stake in shares of PJT Partners by 113.0% during the third quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock valued at $107,000 after buying an additional 426 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of PJT Partners in the third quarter worth about $213,000. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JMP Securities raised their price target on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and raised their target price for the stock from $130.00 to $175.00 in a report on Friday, December 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of PJT Partners from $151.00 to $159.00 and gave the company a “market perform” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $141.00.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 1,541 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James Costos sold 1,500 shares of the 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 completion of the sale, the director now directly owns 9,360 shares in the company, valued at approximately $1,510,797.60. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock worth $762,980 over the last three months. Company insiders own 11.71% of the company’s stock.

PJT Partners Stock Performance

Shares of PJT stock opened at $159.57 on Friday. PJT Partners Inc. has a fifty-two week low of $88.51 and a fifty-two week high of $168.92. The firm has a market cap of $3.78 billion, a P/E ratio of 40.50 and a beta of 0.65. The business’s 50 day moving average price is $155.90 and its 200-day moving average price is $134.20.

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

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Wednesday, December 4th. PJT Partners’s payout ratio is currently 25.38%.

PJT Partners 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.