PJT Partners Inc. (NYSE:PJT) Shares Sold by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC trimmed its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 73.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,007 shares of the financial services provider's stock after selling 98,163 shares during the period. Grandeur Peak Global Advisors LLC owned approximately 0.15% of PJT Partners worth $5,682,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. F M Investments LLC purchased a new position in PJT Partners during the fourth quarter worth $3,507,000. Renaissance Technologies LLC bought a new position in PJT Partners during the 4th quarter valued at about $316,000. Invesco Ltd. grew its holdings in PJT Partners by 39.5% during the 4th quarter. Invesco Ltd. now owns 287,935 shares of the financial services provider's stock valued at $45,439,000 after purchasing an additional 81,514 shares during the last quarter. Bank of Montreal Can raised its position in PJT Partners by 17.5% in the 4th quarter. Bank of Montreal Can now owns 3,203 shares of the financial services provider's stock worth $505,000 after purchasing an additional 477 shares during the period. Finally, FMR LLC lifted its stake in PJT Partners by 52.8% in the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider's stock worth $100,651,000 after purchasing an additional 220,526 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PJT. Citizens Jmp cut PJT Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods increased their target price on PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. Finally, JMP Securities cut shares of PJT Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $158.50.

Remove Ads

PJT Partners Price Performance

Shares of PJT stock traded down $3.21 during mid-day trading on Wednesday, hitting $129.02. The stock had a trading volume of 271,619 shares, compared to its average volume of 244,104. PJT Partners Inc. has a 12-month low of $90.95 and a 12-month high of $190.28. The firm's 50-day moving average is $148.59 and its two-hundred day moving average is $152.89. The firm has a market capitalization of $3.01 billion, a P/E ratio of 26.33 and a beta of 0.77.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.71. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company had revenue of $477.30 million for the quarter, compared to analysts' expectations of $384.64 million. During the same period in the prior year, the business earned $0.96 EPS. The firm's quarterly revenue was up 45.3% on a year-over-year basis. Analysts expect that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Wednesday, March 5th. PJT Partners's dividend payout ratio (DPR) is 20.41%.

PJT Partners 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.