PJT Partners (NYSE:PJT) Cut to Market Perform at JMP Securities

PJT Partners (NYSE:PJT) was downgraded by equities research analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a report released on Monday, MarketBeat Ratings reports.

A number of other equities research analysts have also issued reports on the company. Keefe, Bruyette & Woods increased their price target on PJT Partners from $151.00 to $159.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $130.00 to $175.00 in a report on Friday, December 6th.

PJT Partners Stock Down 2.2 %

NYSE PJT opened at $154.90 on Monday. PJT Partners has a 52 week low of $88.51 and a 52 week high of $168.92. The company has a market capitalization of $3.67 billion, a P/E ratio of 39.31 and a beta of 0.66. The stock’s 50-day moving average price is $159.02 and its 200-day moving average price is $138.07.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm’s revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. Research analysts anticipate that PJT Partners will post 4.4 EPS for the current year.

Insider Activity

In related news, Director Kenneth C. Whitney sold 1,725 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the sale, the director now directly owns 9,100 shares of the company’s stock, valued at $1,453,725. This represents a 15.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Costos sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $161.41, for a total transaction of $242,115.00. Following the transaction, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,766 shares of company stock valued at $762,980. Corporate insiders own 11.71% of the company’s stock.

Institutional Trading of PJT Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new stake in PJT Partners during the second quarter valued at about $13,803,000. Congress Asset Management Co. lifted its position in shares of PJT Partners by 29.6% during the third quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock valued at $42,399,000 after buying an additional 72,582 shares during the last quarter. State Street Corp boosted its holdings in shares of PJT Partners by 5.7% in the 3rd quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock valued at $133,595,000 after buying an additional 54,071 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of PJT Partners in the 2nd quarter worth approximately $5,801,000. Finally, Geode Capital Management LLC grew its position in shares of PJT Partners by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock worth $82,556,000 after buying an additional 45,327 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

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.