Insider Selling: PJT Partners (NYSE:PJT) Director Sells 1,723 Shares

PJT Partners Inc. (NYSE:PJT) Director James Costos sold 1,723 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were 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 in the company, valued at approximately $1,975,575. This trade represents a 13.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

PJT Partners Price Performance

NYSE:PJT traded up $3.65 during mid-day trading on Friday, reaching $174.44. The stock had a trading volume of 264,227 shares, compared to its average volume of 391,981. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 23.86 and a beta of 0.84. PJT Partners Inc. has a 1-year low of $127.73 and a 1-year high of $195.62. The stock’s 50 day simple moving average is $164.02 and its two-hundred day simple moving average is $155.26.

PJT Partners (NYSE:PJT) last announced 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. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The firm had revenue of $486.29 million for the quarter, compared to analysts’ expectations of $425.28 million. During the same quarter in the prior year, the firm posted $1.54 earnings per share. PJT Partners’s revenue for the quarter was up 19.5% compared to the same quarter last year. Sell-side analysts anticipate that PJT Partners Inc. will post 8 EPS for the current fiscal year.

PJT Partners Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nykredit A S bought a new position in PJT Partners during the 2nd quarter worth $209,000. B. Metzler seel. Sohn & Co. AG lifted its stake in PJT Partners by 247.7% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 13,430 shares of the financial services provider’s stock valued at $2,027,000 after buying an additional 9,568 shares during the last quarter. Grandeur Peak Global Advisors LLC boosted its holdings in shares of PJT Partners by 12.0% during the second quarter. Grandeur Peak Global Advisors LLC now owns 57,926 shares of the financial services provider’s stock valued at $8,743,000 after acquiring an additional 6,216 shares during the period. Compass Financial Management LLC acquired a new position in shares of PJT Partners during the second quarter valued at $36,000. Finally, Bank of New York Mellon Corp bought a new position in shares of PJT Partners during the second quarter worth about $28,397,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Wall Street Zen upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. BMO Capital Markets lifted their price target on shares of PJT Partners from $183.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, PJT Partners has an average rating of “Hold” and an average target price of $177.50.

PJT Partners Company 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.