PJT Partners (NYSE:PJT) Reaches New 52-Week High – Here’s Why

PJT Partners Inc. (NYSE:PJT)’s share price reached a new 52-week high on Thursday . The stock traded as high as $150.90 and last traded at $150.90, with a volume of 114 shares. The stock had previously closed at $148.17.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PJT shares. JMP Securities boosted their price target on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. UBS Group increased their price target on shares of PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. The Goldman Sachs Group boosted 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. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $128.00 price target (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, PJT Partners presently has an average rating of “Hold” and an average price target of $123.80.

PJT Partners Trading Up 1.3 %

The firm has a 50-day moving average of $128.53 and a two-hundred day moving average of $113.77. The firm has a market capitalization of $3.60 billion, a P/E ratio of 40.82 and a beta of 0.61.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.49. The company had revenue of $360.00 million for the quarter, compared to the consensus estimate of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. On average, sell-side analysts anticipate that PJT Partners Inc. will post 4.35 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.67%. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Insider Activity at PJT Partners

In other news, Director Kievdi Don Cornwell sold 11,586 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now directly owns 8,339 shares in the company, valued at approximately $1,029,783.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Kievdi Don Cornwell sold 11,586 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now owns 8,339 shares of the company’s stock, valued at $1,029,783.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Emily K. Rafferty sold 1,696 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total value of $221,819.84. Following the transaction, the director now directly owns 7,404 shares of the company’s stock, valued at approximately $968,369.16. 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 25,297 shares of company stock valued at $3,092,668 in the last 90 days. 10.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PJT Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Champlain Investment Partners LLC bought a new stake in shares of PJT Partners during the 1st quarter worth $43,029,000. Vanguard Group Inc. grew its holdings in PJT Partners by 15.0% during the fourth quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock valued at $247,513,000 after purchasing an additional 317,437 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of PJT Partners in the second quarter valued at $13,803,000. Marshall Wace LLP purchased a new stake in shares of PJT Partners during the second quarter worth $5,801,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of PJT Partners by 36.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,049 shares of the financial services provider’s stock worth $8,017,000 after acquiring an additional 22,556 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.