PJT Partners (NYSE:PJT) Reaches New 52-Week High – Here’s What Happened

PJT Partners Inc. (NYSE:PJT)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $150.90 and last traded at $150.90, with a volume of 114 shares trading hands. The stock had previously closed at $148.17.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JMP Securities upped their target price on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. UBS Group lifted their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group raised their price target on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $123.80.

PJT Partners Stock Up 1.3 %

The firm has a market capitalization of $3.60 billion, a PE ratio of 40.82 and a beta of 0.61. The firm’s 50-day simple moving average is $128.53 and its 200-day simple moving average is $113.77.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.49. The company had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $281.93 million. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. PJT Partners’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. On average, equities research analysts forecast that PJT Partners Inc. will post 4.35 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Wednesday, September 4th. PJT Partners’s payout ratio is 27.55%.

Insider Activity at PJT Partners

In other PJT Partners news, Director Kievdi Don Cornwell sold 11,586 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now owns 8,339 shares of the company’s stock, valued at $1,029,783.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Emily K. Rafferty sold 1,696 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total transaction of $221,819.84. Following the completion of the transaction, the director now owns 7,404 shares in the company, valued at $968,369.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the completion of the sale, the director now owns 8,339 shares in the company, valued at approximately $1,029,783.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,297 shares of company stock worth $3,092,668 in the last three months. 10.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. SouthState Corp bought a new position in shares of PJT Partners in the 2nd quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in PJT Partners in the second quarter worth $30,000. GAMMA Investing LLC raised its holdings in PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 146 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in PJT Partners during the first quarter valued at $39,000. Finally, nVerses Capital LLC bought a new stake in shares of PJT Partners during the 3rd quarter valued at $213,000. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Company Profile

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.