Keefe, Bruyette & Woods Cuts PJT Partners (NYSE:PJT) Price Target to $152.00

PJT Partners (NYSE:PJT) had its price target lowered by analysts at Keefe, Bruyette & Woods from $159.00 to $152.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 1.48% from the stock’s current price.

A number of other equities research analysts have also commented on PJT. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and upped their price objective for the company from $130.00 to $175.00 in a research note on Friday, December 6th. JMP Securities cut shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday.

PJT Partners Price Performance

NYSE:PJT traded down $4.87 during mid-day trading on Monday, reaching $149.79. The stock had a trading volume of 90,745 shares, compared to its average volume of 180,117. The stock has a 50-day simple moving average of $159.02 and a two-hundred day simple moving average of $138.07. PJT Partners has a 12 month low of $88.51 and a 12 month high of $168.92. The stock has a market capitalization of $3.55 billion, a PE ratio of 38.02 and a beta of 0.66.

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

Insider Activity

In other news, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction dated Friday, November 8th. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Costos sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock valued at $762,980 in the last ninety days. 11.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PJT. Captrust Financial Advisors lifted its holdings in shares of PJT Partners by 2.2% during the 3rd quarter. Captrust Financial Advisors now owns 3,149 shares of the financial services provider’s stock worth $420,000 after acquiring an additional 67 shares during the last quarter. M&T Bank Corp raised its holdings in shares of PJT Partners by 3.5% during the 3rd quarter. M&T Bank Corp now owns 2,220 shares of the financial services provider’s stock valued at $296,000 after buying an additional 75 shares in the last quarter. New York State Teachers Retirement System lifted its position in PJT Partners by 0.9% in the 3rd quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock worth $1,425,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC boosted its stake in PJT Partners by 32.3% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock worth $70,000 after buying an additional 109 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of PJT Partners by 0.8% during the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock worth $1,601,000 after acquiring an additional 120 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Company 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.