PJT Partners (NYSE:PJT) Director Sells $1,360,950.60 in Stock

PJT Partners Inc. (NYSE:PJT) Director Kievdi Don Cornwell sold 7,845 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $173.48, for a total value of $1,360,950.60. Following the sale, the director owned 18,865 shares in the company, valued at approximately $3,272,700.20. This trade represents a 29.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

PJT Partners Stock Performance

PJT Partners stock opened at $174.44 on Monday. PJT Partners Inc. has a fifty-two week low of $127.73 and a fifty-two week high of $195.62. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 23.86 and a beta of 0.84. The stock has a fifty day moving average of $164.47 and a two-hundred day moving average of $155.26.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.40. The business had revenue of $486.29 million for the quarter, compared to the consensus estimate of $425.28 million. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The business’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 earnings per share. On average, analysts forecast that PJT Partners Inc. will post 8 EPS for the current fiscal year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.00 annualized dividend and a yield of 0.6%. PJT Partners’s payout ratio is presently 13.68%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PJT. BMO Capital Markets upped their price objective on shares of PJT Partners from $183.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded PJT Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. UBS Group reiterated a “neutral” rating and issued a $176.00 price target on shares of PJT Partners in a report on Wednesday, July 29th. Keefe, Bruyette & Woods increased their price target on PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PJT Partners has an average rating of “Hold” and a consensus price target of $177.50.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in PJT Partners by 45.7% during the 1st quarter. Royal Bank of Canada now owns 11,471 shares of the financial services provider’s stock valued at $1,581,000 after purchasing an additional 3,596 shares in the last quarter. AQR Capital Management LLC lifted its holdings in PJT Partners by 57.7% in the 1st quarter. AQR Capital Management LLC now owns 7,330 shares of the financial services provider’s stock worth $1,011,000 after buying an additional 2,681 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in PJT Partners by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider’s stock worth $1,915,000 after buying an additional 620 shares in the last quarter. Millennium Management LLC lifted its holdings in PJT Partners by 1,394.5% in the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock worth $7,247,000 after buying an additional 49,046 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in PJT Partners by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider’s stock valued at $51,090,000 after buying an additional 19,806 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

About PJT Partners

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.