Zacks Investment Research downgraded shares of PJT Partners Inc. (NYSE:PJT) from a hold rating to a sell rating in a research note issued to investors on Friday.

According to Zacks, “PJT Partners Inc. is a financial advisory firm. The Company offers strategic advisory, restructuring and reorganization, fund placement and funds advisory services to corporations, financial sponsors, institutional investors and governments. PJT Partners Inc. is based in NEW YORK, United States. “

A number of other equities analysts also recently issued reports on PJT. BidaskClub downgraded shares of PJT Partners from a hold rating to a sell rating in a research note on Tuesday, August 8th. JMP Securities began coverage on shares of PJT Partners in a research note on Monday, September 18th. They issued an outperform rating and a $45.00 price target for the company. Three investment analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $45.67.

Shares of PJT Partners (PJT) traded up 0.22% during mid-day trading on Friday, reaching $36.83. The company had a trading volume of 76,579 shares. The company’s market capitalization is $682.20 million. The firm has a 50-day moving average of $37.44 and a 200-day moving average of $38.38. PJT Partners has a 12-month low of $25.86 and a 12-month high of $45.38.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.07). PJT Partners had a negative return on equity of 115.47% and a negative net margin of 0.27%. The company had revenue of $109.31 million during the quarter. On average, equities analysts anticipate that PJT Partners will post $1.54 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Thursday, September 7th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, September 6th. PJT Partners’s dividend payout ratio is -200.00%.

In other PJT Partners news, Director Dennis S. Hersch bought 2,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was acquired at an average price of $38.45 per share, with a total value of $76,900.00. Following the completion of the purchase, the director now owns 18,000 shares of the company’s stock, valued at $692,100. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 3.30% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc increased its stake in shares of PJT Partners by 15.7% during the second quarter. IFP Advisors Inc now owns 2,688 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 365 shares in the last quarter. Legal & General Group Plc increased its stake in shares of PJT Partners by 4.0% during the second quarter. Legal & General Group Plc now owns 4,375 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 169 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of PJT Partners by 1.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,559 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 59 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of PJT Partners during the second quarter valued at approximately $213,000. Finally, Strs Ohio increased its stake in shares of PJT Partners by 6.5% during the second quarter. Strs Ohio now owns 6,600 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 400 shares in the last quarter. 59.19% of the stock is owned by institutional investors and hedge funds.

About PJT Partners

PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.

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