Quantbot Technologies LP Acquires 8,104 Shares of PJT Partners Inc. (NYSE:PJT)

Quantbot Technologies LP increased its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 106.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,737 shares of the financial services provider’s stock after buying an additional 8,104 shares during the period. Quantbot Technologies LP’s holdings in PJT Partners were worth $2,098,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PJT. SouthState Corp bought a new stake in shares of PJT Partners in the 2nd quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of PJT Partners in the second quarter worth $30,000. GAMMA Investing LLC grew its stake in shares of PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 146 shares during the last quarter. KBC Group NV increased its holdings 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 acquiring an additional 426 shares in the last quarter. Finally, OLD National Bancorp IN purchased a new position in shares of PJT Partners in the 2nd quarter worth about $204,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 1,541 shares of the business’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 transaction of $245,296.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Costos sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total transaction of $242,115.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 14,766 shares of company stock worth $1,951,480 over the last quarter. 11.71% of the stock is currently owned by corporate insiders.

PJT Partners Stock Down 0.4 %

NYSE PJT opened at $165.19 on Friday. The company has a 50-day moving average price of $146.85 and a 200-day moving average price of $125.84. PJT Partners Inc. has a 52 week low of $85.87 and a 52 week high of $168.92. The firm has a market capitalization of $3.92 billion, a P/E ratio of 41.93 and a beta of 0.61.

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, topping 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 the consensus estimate of $313.46 million. During the same period last year, the firm earned $0.78 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. As a group, equities research analysts anticipate 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 will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.61%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s dividend payout ratio is presently 25.38%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PJT shares. JMP Securities raised their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. UBS Group boosted their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $123.80.

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.