PJT Partners (NYSE:PJT) Sets New 12-Month High - Should You Buy?

Shares of PJT Partners Inc. (NYSE:PJT - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $143.31 and last traded at $143.31, with a volume of 30466 shares trading hands. The stock had previously closed at $139.65.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PJT shares. UBS Group upped their price target on shares of PJT Partners from $110.00 to $120.00 and gave the company a "sell" rating in a research note on Tuesday. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Finally, JMP Securities increased their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the stock a "market outperform" rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $123.80.

PJT Partners Stock Up 3.3 %

The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 37.68 and a beta of 0.61. The business's 50 day simple moving average is $126.94 and its 200-day simple moving average is $112.54.

PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.49. The firm had revenue of $360.00 million during the quarter, compared to analysts' expectations of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, analysts expect that PJT Partners Inc. will post 4.35 earnings per share for the current year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a $0.25 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. PJT Partners's dividend payout ratio (DPR) is currently 26.11%.

Insider Transactions at PJT Partners

In other news, Director Emily K. Rafferty sold 1,696 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $130.79, for a total value of $221,819.84. Following the completion of the transaction, the director now owns 7,404 shares of the company's stock, valued at approximately $968,369.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ji-Yeun Lee sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total value of $1,188,500.00. Following the completion of the transaction, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Emily K. Rafferty sold 1,696 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were 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 of the company's stock, valued at approximately $968,369.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,297 shares of company stock valued at $3,092,668. 11.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PJT. SouthState Corp acquired a new stake in PJT Partners during the 2nd quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in PJT Partners during the 2nd quarter valued at approximately $30,000. Fidelis Capital Partners LLC acquired a new stake in PJT Partners during the 1st quarter valued at approximately $39,000. GAMMA Investing LLC increased its position in PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 146 shares during the period. Finally, EntryPoint Capital LLC increased its position in PJT Partners by 27.6% during the 1st quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider's stock valued at $157,000 after purchasing an additional 359 shares during the period. 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.