PJT Partners (NYSE:PJT) Sets New 52-Week High at $123.89

PJT Partners Inc. (NYSE:PJT) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $123.89 and last traded at $123.81, with a volume of 58872 shares. The stock had previously closed at $119.64.

Analyst Ratings Changes

Several brokerages have recently commented on PJT. Keefe, Bruyette & Woods increased their price objective on PJT Partners from $99.00 to $108.00 and gave the company a “market perform” rating in a report on Friday, July 12th. UBS Group upped their price objective on shares of PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a report on Tuesday, July 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price objective on shares of PJT Partners in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.80.

PJT Partners Price Performance

The firm has a fifty day moving average of $109.43 and a 200 day moving average of $101.72. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 34.80 and a beta of 0.62.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.45 by $0.53. PJT Partners had a return on equity of 17.36% and a net margin of 7.57%. The business had revenue of $329.39 million for the quarter, compared to analyst estimates of $229.32 million. During the same quarter in the prior year, the firm posted $0.54 EPS. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. Research analysts predict that PJT Partners Inc. will post 4 EPS for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were given a $0.25 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.79%. PJT Partners’s dividend payout ratio (DPR) is currently 27.55%.

Institutional Trading of PJT Partners

A number of institutional investors and hedge funds have recently made changes to their positions in PJT. Opal Wealth Advisors LLC purchased a new position in PJT Partners in the 2nd quarter valued at about $30,000. Fidelis Capital Partners LLC acquired a new position in shares of PJT Partners during the first quarter valued at approximately $39,000. EntryPoint Capital LLC lifted its position in shares of PJT Partners by 27.6% in the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 359 shares in the last quarter. Shell Asset Management Co. boosted its stake in shares of PJT Partners by 41.0% in the first quarter. Shell Asset Management Co. now owns 2,074 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 603 shares during the last quarter. Finally, OLD National Bancorp IN purchased a new stake in shares of PJT Partners during the second quarter worth approximately $204,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

About PJT Partners

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.