4,678 Shares of PJT Partners Inc. $PJT Bought by Smith Group Asset Management LLC

Smith Group Asset Management LLC purchased a new position in shares of PJT Partners Inc. (NYSE:PJT) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 4,678 shares of the financial services provider’s stock, valued at approximately $668,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Financial Management LLC acquired a new stake in shares of PJT Partners during the 2nd quarter valued at about $36,000. Versant Capital Management Inc grew its stake in shares of PJT Partners by 73.3% in the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock valued at $35,000 after buying an additional 99 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in PJT Partners in the first quarter worth approximately $50,000. GK Wealth Management LLC acquired a new position in PJT Partners in the third quarter worth approximately $92,000. Finally, Sterling Capital Management LLC increased its holdings in PJT Partners by 144.1% in the third quarter. Sterling Capital Management LLC now owns 659 shares of the financial services provider’s stock worth $94,000 after buying an additional 389 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $148.31 on Thursday. The stock has a market capitalization of $3.79 billion, a P/E ratio of 20.29 and a beta of 0.89. The business has a 50-day moving average of $154.90 and a two-hundred day moving average of $157.02. PJT Partners Inc. has a fifty-two week low of $127.73 and a fifty-two week high of $195.62.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.40. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%. The business had revenue of $486.29 million for the quarter, compared to analyst estimates of $425.28 million. During the same quarter in the prior year, the firm posted $1.54 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts expect that PJT Partners Inc. will post 7.65 EPS for the current fiscal year.

Insider Buying and Selling

In other PJT Partners news, Director James Costos sold 1,723 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $175.00, for a total transaction of $301,525.00. Following the completion of the sale, the director owned 11,289 shares of the company’s stock, valued at $1,975,575. This represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Emily K. Rafferty sold 1,100 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $167.35, for a total value of $184,085.00. Following the transaction, the director owned 9,568 shares in the company, valued at approximately $1,601,204.80. This trade represents a 10.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,951 shares of company stock valued at $2,061,681 in the last quarter. Company insiders own 10.98% of the company’s stock.

Wall Street Analyst Weigh In

PJT has been the topic of several recent research reports. Wall Street Zen lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Capital One Financial set a $160.00 target price on shares of PJT Partners in a research report on Tuesday, October 6th. Keefe, Bruyette & Woods downgraded shares of PJT Partners from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $195.00 to $159.00 in a research report on Wednesday, October 7th. BMO Capital Markets restated an “outperform” rating on shares of PJT Partners in a report on Tuesday, October 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of PJT Partners from $203.00 to $182.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $168.33.

About PJT Partners

PJT Partners Inc (NYSE:PJT) is a global, advisory-focused investment banking and financial services firm. The company provides strategic advice to corporations, financial sponsors, institutional investors and other clients on mergers and acquisitions, divestitures, capital raising, liability management and other complex financial matters.

Its businesses also include restructuring and special situations advisory, private capital advisory and placement services, and shareholder engagement and governance advice.