PJT Partners (NYSE:PJT) Sets New 52-Week High After Strong Earnings

Shares of PJT Partners Inc. (NYSE:PJT) reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $189.00 and last traded at $186.97, with a volume of 92785 shares changing hands. The stock had previously closed at $165.33.

The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.71. The firm had revenue of $477.30 million during the quarter, compared to the consensus estimate of $384.64 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The company’s revenue was up 45.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share.

Analyst Ratings Changes

Several research analysts have commented on PJT shares. Keefe, Bruyette & Woods cut their price target on PJT Partners from $159.00 to $152.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. JMP Securities cut shares of PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and increased their price target for the stock from $130.00 to $175.00 in a research note on Friday, December 6th. Finally, Citizens Jmp downgraded shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $152.25.

Insider Transactions at PJT Partners

In other PJT Partners news, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the completion of the transaction, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David Adam Travin sold 1,541 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $159.18, for a total transaction of $245,296.38. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock valued at $762,980 in the last quarter. 11.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PJT Partners

A number of large investors have recently bought and sold shares of PJT. Illinois Municipal Retirement Fund raised its holdings in shares of PJT Partners by 7.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 12,852 shares of the financial services provider’s stock worth $2,028,000 after acquiring an additional 930 shares during the last quarter. Handelsbanken Fonder AB raised its stake in PJT Partners by 15.7% in the 4th quarter. Handelsbanken Fonder AB now owns 5,900 shares of the financial services provider’s stock valued at $931,000 after purchasing an additional 800 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in PJT Partners by 26.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 130,948 shares of the financial services provider’s stock valued at $20,665,000 after purchasing an additional 27,301 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in PJT Partners by 7.5% in the 4th quarter. New York State Common Retirement Fund now owns 7,917 shares of the financial services provider’s stock valued at $1,249,000 after purchasing an additional 552 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in shares of PJT Partners by 6.7% during the 4th quarter. Truist Financial Corp now owns 8,889 shares of the financial services provider’s stock worth $1,403,000 after purchasing an additional 560 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Up 5.2 %

The business’s fifty day moving average price is $160.59 and its 200 day moving average price is $144.05. The firm has a market capitalization of $4.12 billion, a PE ratio of 44.16 and a beta of 0.67.

About PJT Partners

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.