Private Advisor Group LLC Buys New Position in PJT Partners Inc. (NYSE:PJT)

Private Advisor Group LLC bought a new stake in shares of PJT Partners Inc. (NYSE:PJT) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,198 shares of the financial services provider’s stock, valued at approximately $293,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PJT. SouthState Corp bought a new position in shares of PJT Partners during the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of PJT Partners during the second quarter valued at $30,000. Fidelis Capital Partners LLC bought a new position in shares of PJT Partners during the first quarter valued at $39,000. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 146 shares in the last quarter. Finally, EntryPoint Capital LLC increased its holdings in shares of PJT Partners by 27.6% during the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 359 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

PJT Partners Stock Up 15.8 %

PJT Partners stock opened at $163.53 on Thursday. The business has a 50-day simple moving average of $134.79 and a two-hundred day simple moving average of $118.95. The company has a market cap of $3.89 billion, a P/E ratio of 41.51 and a beta of 0.61. PJT Partners Inc. has a 52-week low of $81.25 and a 52-week high of $163.54.

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

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.61%. PJT Partners’s dividend payout ratio is currently 25.38%.

Insider Activity

In other news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the transaction, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the transaction, the insider now directly owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kievdi Don Cornwell sold 11,586 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the completion of the transaction, the director now directly owns 8,339 shares in the company, valued at approximately $1,029,783.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,601 shares of company stock valued at $2,870,848 in the last ninety days. Corporate insiders own 11.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PJT shares. UBS Group lifted their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $128.00 price objective (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. JMP Securities lifted their price objective on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price objective on PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, PJT Partners has a consensus rating of “Hold” and an average price target of $123.80.

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.