PJT Partners Inc. $PJT Shares Bought by Gibbs Wealth Management

Gibbs Wealth Management grew its position in shares of PJT Partners Inc. (NYSE:PJT) by 90.4% during the first quarter, HoldingsChannel reports. The firm owned 9,177 shares of the financial services provider’s stock after buying an additional 4,358 shares during the period. Gibbs Wealth Management’s holdings in PJT Partners were worth $1,282,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PJT. Allworth Financial LP increased its stake in PJT Partners by 85.8% during the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after buying an additional 133 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of PJT Partners during the first quarter valued at about $50,000. State of Wyoming acquired a new stake in shares of PJT Partners during the second quarter valued at about $63,000. Kestra Advisory Services LLC purchased a new stake in shares of PJT Partners during the fourth quarter worth about $65,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of PJT Partners in the fourth quarter worth about $86,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Stock Down 0.3%

Shares of NYSE:PJT opened at $163.72 on Friday. The company has a market cap of $4.23 billion, a PE ratio of 23.87 and a beta of 0.85. PJT Partners Inc. has a fifty-two week low of $127.73 and a fifty-two week high of $195.62. The firm has a 50-day simple moving average of $157.99 and a 200 day simple moving average of $156.74.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.03. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The firm had revenue of $418.20 million for the quarter, compared to analysts’ expectations of $409.38 million. During the same quarter last year, the company posted $1.05 earnings per share. PJT Partners’s revenue was up 28.9% on a year-over-year basis. As a group, research analysts forecast that PJT Partners Inc. will post 7.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel David Adam Travin sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the transaction, the general counsel directly owned 2,052 shares in the company, valued at $312,786.36. This represents a 59.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Helen T. Meates sold 8,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $153.19, for a total value of $1,225,520.00. Following the completion of the sale, the chief financial officer directly owned 58,466 shares in the company, valued at $8,956,406.54. This represents a 12.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PJT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on PJT Partners from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. UBS Group raised their price target on shares of PJT Partners from $160.00 to $162.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Wednesday, April 1st. Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $175.33.

PJT Partners Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.